Avgol Industries 1953 Ltd (“Avgol”) announced that due to the difficulties of obtaining financing on reasonable terms, given current credit market conditions, it had resolved not to proceed with its possible offer for Fiberweb plc (“Fiberweb” or the “Company”).
Accordingly discussions between Fiberweb and Avgol have been terminated and Fiberweb is no longer in discussions with any third party about a possible offer for the Company.
The Board of Fiberweb is confident of the prospects of the Group as an independent business.
First quarter trading in 2008 has been in line with the Board's expectations and an Interim Management Statement will be issued on 2 May 2008 , before the AGM to be held on that day.
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