Belgium-based technical textiles provider Sioen Industries NV has announced plans to acquire Italy-based family-owned geotextiles producer Manifattura Fontana S.p.A. In a first phase, Sioen will acquire 90 percent of the Manifattura Fontana shares. The company will be integrated into Sioen’s nonwovens business, but Managing Director Francesco Fontana will remain in place.
Sioen reports the takeover will add geotextiles and needle felt knowledge, wide-width 6.7-meter-wide capabilities, and improved access to geographical markets for its group. It also will enable the group to realize growth in turnover and margins.