The new production line in Egypt has successfully passed the demanding testing and qualification process and at the start of January has commenced standard commercial operations.
During the course of 2014, the technologies will continue to be optimised with the objective of achieving maximum efficiency and productivity.
Furthermore, the Company announces that it is not altering its updated guidance for the 2013 financial results and continues to expect EBITDA to be in the EUR 37 to 39 million range after excluding the revaluation of the share option plan to fair value. PEGAS also does not expect to exceed the planned CAPEX level of EUR 41 million. The preliminary financial results for 2013 will be released on 20 March 2014.
PEGAS NONWOVENS SA, société anonyme, is a holding company based in Luxembourg with operating companies based in Znojmo and Bucovice, Czech Republic. PEGAS NONWOVENS is a manufacturer of polypropylene /polyethylene nonwoven textiles for the hygiene, industrial, construction, agricultural, medical and other specialized sectors.
These textiles are primarily used for the manufacture of baby diapers, feminine hygiene and adult incontinence products. The Company is active in developing new products demanded by the market and thereby maintains its position of technology leader in the European nonwovens market. PEGAS NONWOVENS currently has more than 570 employees.