In Brazil, Freudenberg has been successful with nonwovens for the South American hygiene market since 1985. However, in recent years, the hygiene market has shifted from a regional to a global one.
“Fitesa is geared to the global hygiene market. Under this umbrella, our current regional business can develop better and grow long-term in the new structures,” said Dr. Frank Heislitz, CEO Freudenberg Performance Materials. “We are very happy that with Fitesa we found a reputable global player in the hygiene business, with similar values to Freudenberg. This will be a good new home for our staff.”
“The acquisition of Freudenberg’s South American hygiene business provides us with a state-of-the-art production facility as well as with a professional and well-trained workforce, which will help us to better serve the needs of our customers,” said Silverio Baranzano, CEO of Fitesa.
The sale is limited to the hygiene business, which is run by Freudenberg Hygiene Brazil Ltda. The company has 100 employees. The transaction is subject to approval by the antitrust authorities.
The Brazilian and other South American Freudenberg Performance Materials businesses in the apparel, shoe and leather markets are not affected by the sale.
As an innovative solution partner, the company will focus in the future on customers in nine global market segments: apparel, automotive, building interiors, construction, energy, filter media, healthcare, shoe and leather goods, as well as special applications.
Freudenberg Performance Materials is a global manufacturer of innovative technical textiles offering differentiated value propositions to a broad range of applications such as apparel, automotive, building materials, energy, filter media, healthcare, hygiene, building interiors, shoe and leather goods as well as specialties. In 2018, the company generated sales of more than €920 million and had 23 manufacturing sites in 13 countries and more than 3,600 associates. Freudenberg Performance Materials attaches great importance to social and ecological responsibility.
Fibre2Fashion News Desk (PC)