Pegas creates new subsidiary for 9th production line
20 Dec '07
2 min read
On December 3rd, 2007 a wholly owned subsidiary of PEGAS NONWOVENS s.r.o. was registered with Commercial Register kept by the Regional Court in Brno. This joint stock company PEGAS - NS a.s. has its registered seat at Prímetická 86, Znojmo.
PEGAS - NS a.s. has been set up as a legal entity for the planned 9th production line which is currently in the project phase. Investment incentives for this line are being negotiated with the Czech Government agency CzechInvest.
On final approval of the incentives by the Czech Ministry of Industry and Trade, PEGAS - NS a.s. will be the final recipient of the investment incentives. On acceptance of the incentives by PEGAS – NS a.s. it will have 3 years to put the 9th production line into commercial production.
The expansion of capacity through investments into state-of-the-art technology is an integral part of PEGAS NONWOVENS' long term strategy for increasing market share and maintaining technology leadership.
PEGAS NONWOVENS SA is a holding company based in Luxembourg with operating companies based in Znojmo and Bucovice, Czech Republic. PEGAS NONWOVENS is a manufacturer of polypropylene / polyethylene nonwoven textiles for the hygiene, industrial, construction, agricultural, medical and other specialized sectors.
These textiles are primarily used for the manufacture of baby diapers, feminine hygiene and adult incontinence products. The Company is active in developing new products demandedby the market and thereby maintains its position of technology leader in the European nonwovens market. PEGAS NONWOVENS currently has approximately 380 employees.
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