JACAREÍ, Brazil — December 9, 2019 — Freudenberg, the global technology group, has sold its South American Hygiene nonwoven business to Fitesa, a Brazil-based nonwoven specialist. Freudenberg sees the sale of the hygiene business as the best opportunity to successfully develop this business. Fitesa is one of the main suppliers of nonwovens to the global hygiene market. Both parties have agreed not to disclose the purchase price. The transaction is subject to approval by competent antitrust authorities.
In Brazil, Freudenberg has been successful with nonwovens for the South American hygiene market since 1985. However, in recent years, the hygiene market has shifted from a regional to a global one. “Fitesa is geared to the global hygiene market. Under this umbrella, our current regional business can develop better and grow long-term in the new structures,” said Dr. Frank Heislitz, CEO Freudenberg Performance Materials. “We are very happy that with Fitesa we found a reputable global player in the hygiene business, with similar values to Freudenberg. This will be a good new home for our staff.”
“The acquisition of Freudenberg’s South American hygiene business provides us with a state-of-the-art production facility as well as with a professional and well-trained workforce, which will help us to better serve the needs of our customers,” stated Silverio Baranzano, CEO of Fitesa.
The sale is limited to the hygiene business, which is run by Freudenberg Hygiene Brazil Ltda. The company has 100 employees. The transaction is subject to approval by the antitrust authorities.
The Brazilian and other South American Freudenberg Performance Materials businesses in the apparel, shoe and leather markets are not affected by the sale.
As an innovative solution partner, the company will focus in the future on customers in nine global market segments: apparel, automotive, building interiors, construction, energy, filter media, healthcare, shoe and leather goods, as well as special applications.
Posted December 16, 2019
Source: Freudenberg Performance Materials