About Fibertex South Africa
In 2010, Fibertex established Fibertex South Africa (Pty) Ltd. in South Africa with a view to manufacturing and marketing needlepunch products. The manufacturing plant is located in near Durban and has a high-tech, state-of-the-art and competitive production system with a view to manufacturing and marketing needlepunch products. The South African company is jointly owned by Fibertex Nonwovens, the Danish Industrialisation Fund for Developing Countries (IFU) and the South African company Safyr,
Fibertex Nonwovens increased its ownership interest in Fibertex South Africa from 26% to 74.2% by purchasing the 48,2% Safyr shares, with effect from 1 March 2015. The transaction also included the investment in a second state-of-the-art needlepunched production line, and the simultaneous purchase of the Safyr fibre line, and additional land and buildings. The Investment Fund for Developing Countries (IFU) keeps its ownership interest of 25.8% and invested accordingly.
The transaction will create an important platform for the future development of Fibertex Nonwovens in Africa. This is a strategic initiative and Group CEO Jorgen Bech Madsen sees huge potential in having local production in South Africa. Fibertex South Africa has experienced significantly increased demand not only for products for the growing South African automotive industry and infrastructure programmes, but also for industrial applications. T
he capacity expansion is as an important milestone for the company as this is in line with the strategies and growth objectives of the company, including the expansion into Africa. The increased investment in state-of-the-art production capacity not only increases work places in an area with high unemployment but also proves that South Africa is an attractive location for world class production.