Fibertex buys out Malaysian partner.
In early 2007, Fibertex acquired a remaining 40% share in its Malaysian operations Fibertex Nonwovens Sdn Bhd from partner Industrialiseringsfonden for Udviklingslandene (IFU) for a reported DKK 135 million. Fibertex and IFU established the subsidiary in 2002 to grant it better access to the Asian community. Two years later, the company added a second spunmelt line to the operation to help improve its efficiency. Since then, the Malaysian operation has been an increasingly important factor in Fibertex's sales growth in the hygiene segment.
In addition to the two spunmelt lines in Malaysia, Fibertex operates three similar lines in Aalborg, Denmark, where it is headquartered. In 2005, hygiene sales rose 23% to DKK669 million and this growth is expected to continue as the third Denmark line, started in late 2006, comes onstream.
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|Title Annotation:||Nonwoven News: A Look at What's Going On In The Industry; Fibertex Corp.|
|Article Type:||Brief article|
|Date:||Feb 1, 2007|
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