JACAREÍ, Brazil — February 6, 2020 — Freudenberg, the global technology group, completed the sale of its South American Hygiene nonwoven business to Fitesa effective from February 6, 2020. The relevant antitrust authorities approved the transaction. Freudenberg sees the sale of the hygiene business as the best opportunity for it to succeed over time. Fitesa is a main supplier of nonwovens to the global hygiene market. Both parties have agreed not to disclose the purchase price.
Freudenberg has had success in Brazil with nonwovens for the regional South American hygiene market since 1985. However, over the past few years, the hygiene market has shifted from a regional market to a global one. “Fitesa is geared to the global hygiene market. Under this set up, our current regional business can perform better and grow long-term in the new structures,” said Dr. Frank Heislitz, CEO Freudenberg Performance Materials. “We are very happy to have found a reputable global player in the hygiene business with Fitesa, which has similar values to Freudenberg. This will be a good new home for our staff.”
“Acquiring Freudenberg’s South American hygiene business gives us a state-of-the-art production facility, as well as a professional and well-trained workforce, to help us better serve the needs of our customers,” stated Silverio Baranzano, CEO of Fitesa.
The sale is limited to the hygiene business, run by Freudenberg Hygiene Brazil Ltda. The company has 100 employees.
The sale does not affect Freudenberg Performance Materials’ Brazilian and other South American businesses in apparel, shoe and leather sectors.
In the future, the company will be an innovative solution partner for 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 February 6, 2020
Source: Freudenberg Performance Materials Holding SE & Co. KG