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Home / News / Freudenberg concludes South American hygiene business sale

Freudenberg concludes South American hygiene business sale

07
Feb '20
Pic: Freudenberg
Pic: Freudenberg
Freudenberg, the global technology group, has completed the sale of its South American hygiene nonwoven business to Fitesa, effective from February 6, 2020. Freudenberg sees the sale as the best opportunity to succeed over time. Fitesa is a supplier of nonwovens to the global hygiene market. Both parties have agreed not to disclose the purchase price.

Freudenberg has had success in Brazil with nonwovens for the regional South American hygiene market since 1985. However, over the past few years, the hygiene market has shifted from a regional market to a global one.

The sale is limited to the hygiene business, run by Freudenberg Hygiene Brazil. The company has 100 employees. The sale does not affect Freudenberg Performance Materials’ Brazilian and other South American businesses in apparel, shoe, and leather sectors. In the future, the company will be an innovative solution partner for customers in nine global market segments: apparel, automotive, building interiors, construction, energy, filter media, healthcare, shoe, and leather goods, as well as special applications.

“Fitesa is geared to the global hygiene market. Under this set up, our current regional business can perform better and grow long-term in the new structures. We are very happy to have found a reputable global player in the hygiene business with Fitesa, which has similar values to Freudenberg. This will be a good new home for our staff,” Frank Heislitz, CEO Freudenberg Performance Materials said in a press release.

“Acquiring Freudenberg’s South American hygiene business gives us a state-of-the-art production facility, as well as a professional and well-trained workforce, to help us better serve the needs of our customers,” Silverio Baranzano, CEO of Fitesa said.

Fibre2Fashion News Desk (GK)

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