The agreement was signed on May 18, the closing time for this acquisition is fixed on September 1. This acquisition is considered by Filidea as highly strategic as it will ensure the penetration of the Italian company into markets of technical yarns where it was not present so far, thus strengthening its commercial presence, Filidea said in a press release.
The integration of Hoftex CoreTech constitutes one of the elements of the growing strategy implemented by the group that allowed to overcome a turnover amounting at €75 million.
Hoftex CoreTech GmbH belonged, since 2000, to the German group Hoftex, an international group involving manifold productive areas. Through its three divisions – Hoftex (yarns), Tenowo (non-woven fabric) and Neutex (home decoration), the group located in Bavaria has achieved high levels of production, research and development in the textile sector. (RR)
ALCHEMPro News Desk – India
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