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Freudenberg terminates purchase of Lantor.

In a surprise move last month, Freudenberg Group, Weinheim, Germany, broke off negotiations with Coats Viyella for the purchase of the Lantor Group, Veenendaal, The Netherlands. The largest nonwoven roll goods manufacturer had previously announced its intention to acquire the company in March. Norbert Dahlstrom, managing director of Freudenberg, told NONWOVENS INDUSTRY that it was a consensus with Coats Viyella to drop negotiations; this officially took place on May 11. "It was a great disappointment to us," said Mr. Dahlstrom. "We had many positive plans for the company."

Coats Viyella, the parent company of Lantor, will take Lantor off the market for now while reassessing its options. Speculation in the industry about the aborted negotiations centers around a high purchase price and outdated equipment and facilities that need a great deal of modernization.

Lantor, the 13th largest nonwovens roll goods producer in the world, had $120 million in annual sales in 1990.
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Title Annotation:break in negotiations between Freudenberg Group and Coats Viyella PLC for sale of Lantor Group
Publication:Nonwovens Industry
Article Type:Brief Article
Date:Jun 1, 1992
Words:152
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