Fibertex Nonwovens, which is wholly owned by Schouw & Co., acquires the French nonwovens manufacturer Tharreau Industries. The acquisition cements Fibertex Nonwovens position as a leading European sub-supplier to the automotive industry and significantly strengthens the other business areas of the company.
Fibertex Nonwovens has negotiated a deal for the acquisition of 85.27% of the shares in the French Tharreau Industries. The acquisition is part of a targeted strategy to become a leading supplier in Europe, and the business areas of the two companies both complement and strengthen each other:
- Tharreau and Fibertex are some of the most important pioneers of nonwovens production. We have followed each other for many years – both as competitors and as colleagues, and we know the company as a well-run and interesting company whose innovative products give it a strong position in the market. There is no doubt that Tharreau Industries will strengthen our position in Europe even further, says Jørgen Bech Madsen, CEO of Fibertex Nonwovens.
In 2010, Tharreau Industries posted sales of approx. EUR 53 million. According to Jørgen Bech Madsen, the company is an attractive acquisition: - The acquisition of Tharreau offers a wide range of business synergies that can strengthen our overall performance. We will also gain better access to the automotive sector, he notes.
In fact, with 60% of its sales coming from the automotive sector, this segment is Tharreau’s primary market:
- The automotive industry holds major potential for our products. Material properties such as extreme noise absorption, environmental friendliness, low weight and low cost per square metre mean that our products are already replacing many other types of products used in car construction. On average, 28 sqm of nonwovens with approx. 40 different applications are used to build a car, and this number will increase in the coming years, explains Jørgen Bech Madsen.
Both Fibertex Nonwovens and Tharreau Industries hold strong and complementary market positions in Europe and are expanding their businesses globally. Tharreau Industries has over the years developed a strong state-of-the-art technological platform with unique products. Fibertex Nonwovens has made substantial investments in modern production lines. Fibertex Nonwovens currently has manufacturing sites in Denmark, the Czech Republic and South Africa, and with the acquisition of the French company, the company will increase its capacity by more than 50%.
- Building on the strengths and know-how of both companies, we are able to satisfy the growing demand of the market. We will be working at optimising our operations to leverage our global capacity. The timing is good, he says and continues: - We are currently in the process of starting up a new production line in the Czech Republic and with Tharreau acquisition we expect to sell the increased capacity quicker than planned.
Mr Tharreau is now 63 years old and has decided to retire. It has been important for me to ensure the continued strong development of the company, and I am very satisfied with Fibertex Nonwovens as the new owner of the company, Michel Tharreau explains. Both companies are investing in modern technology and believe in developing innovative product solutions together with our customers.
At the industrial conglomerate Schouw & Co. in Aarhus, which owns Fibertex Nonwovens and the sister company Fibertex Personal Care, President Jens Bjerg Sørensen is thrilled about the acquisition:
- Fibertex Nonwovens’ acquisition of Tharreau Industries perfectly matches our overall strategy of creating large, strong and focused portfolio companies, Jens Bjerg Sørensen points out and continues: - Fibertex is seeing very positive growth, and we expect the acquisition of Tharreau to contribute further to our European consolidation and growing global presence, he ends.
Facts about Fibertex Nonwovens
Effective from 1 January 2011, Fibertex A/S was split into two sister companies, Fibertex Nonwovens A/S and Fibertex Personal Care A/S. Fibertex Nonwovens is a leading manufacturer of nonwovens which are used in many different product areas, including the automotive, furniture, building and niche industries and for geotextiles.
Wholly owned by Schouw & Co., Fibertex Nonwovens is headquartered in Aalborg, Denmark, where the company was founded in 1968. The company has – in addition to the new French acquisition – manufacturing sites in Denmark, the Czech Republic and South Africa.
Facts about Tharreau Industries
Tharreau Industries is a more than 80-year-old family owned business with headquarters and production in Chemillié in western France. The company manufactures nonwovens for the French home market and for exports, and more than half of the company’s products are sold to the automotive industry. In 2010, Tharreau Industries had consolidated sales of EUR 53.7 million and 135 employees.
For further information, please contact:
• Jørgen Bech Madsen, CEO, Fibertex Nonwovens A/S, tel. +45 96 35 35 35
• Michel Tharreau, CEO, Tharreau Industries, tel. +33 2 41 71 55 50
• Jens Bjerg Sørensen, President, Schouw & Co., tel. +45 86 11 22 22