WEINHEIM, Germany — May 12, 2020 — The global technology group Freudenberg has acquired 100 percent of the shares in Low & Bonar PLC, London. Freudenberg submitted an offer in September 2019. The Low & Bonar shareholders approved the sale in November 2019, the European Commission authorized the merger on April 17. Low & Bonar PLC will be delisted from the London Stock Exchange on May 13 at 8 a.m. local London time. Low & Bonar is a global manufacturer of technical textiles. The company will be integrated in the Freudenberg Performance Materials Business Group.
“Freudenberg strengthens its performance materials business, and with Low & Bonar’s innovative technology it can further expand its technological know-how,” said Dr. Mohsen Sohi, Freudenberg Group CEO.
Dr. Frank Heislitz, CEO of Freudenberg Performance Materials emphasized: “As a pioneer in spunbonded nonwoven production, Freudenberg has offered its customers materials manufactured with a one-step production process since 1968. Thanks to the two-step process solution from Low & Bonar, we can be even more flexible and individually tailor products to customer specifications.” Freudenberg can also expand on its broad product range. This is particularly true for the current application in the construction, interior build out, home textile and automotive sectors.
“We are also opening new fields for Freudenberg with new applications thanks to Low & Bonar’s complementary technologies,” Heislitz said. The acquisition of Low & Bonar which was founded in 1903 and headquarters in London means Freudenberg Performance Materials now has 35 production facilities in Asia, Europe and North America (previously 24) and employees some 5,500 employees (previously some 4,000).
Same views on quality and sustainability
Just like Low & Bonar, Freudenberg uses leading edge technologies to develop and manufacture its fabrics and textiles and for refining textiles and materials. The products from both companies are top quality. Freudenberg and Low & Bonar also have identical sustainability processes. The goal of both companies is to be responsibly sustainable in their actions. Sustainability is integrated in the entire product cycle, including the use of raw materials and energy as well as the entire manufacturing process. International standards are not merely satisfied but exceeded.
Posted May 12, 2020
Soure: Freudenberg
