Daniel Halftermeyer, president of Machine Clothing, said, “We are excited about the opportunities to create additional value for our shareholders and customers through the increased scale, complementary technologies, and broader geographic footprint this transaction provides. Together we will effectively combine the strengths of each company to set a new standard in customer value delivery as the industry’s partner-of-choice.”
Albany acquired Heimbach for €132 million in cash and assumed net debt of approximately €22 million. The transaction was funded with cash held in Europe.
Fibre2Fashion News Desk (KD)