Sioen Industries, worldwide solution provider in technical textiles, has acquired Manifattura Fontana S.p.A., an Italian producer of geotextile non-wovens, serving the European civil engineering market.
Sioen Industries Group has acquired 90 per cent shares in a first phase. Under the terms of the acquisition, Francesco Fontana will remain as managing director. The company will be integrated in the Sioen non wovens business, according to a press release.Sioen Industries, worldwide solution provider in technical textiles, has acquired Manifattura Fontana S.p.A., an Italian producer of geotextile#
The acquisition is consistent with the Group strategy, aimed at technology driven, sustainable and profitable growth. It helps to open a new and promising market in Geosynthetics for the Group. The transaction has an enterprise value of approximately 9.5 million euro and is subject to customary closing conditions.
Sioen Industries NV is a diversified stock quoted Group that has an extensive portfolio of products and activities: spinning, weaving and coating, manufacturing of garments, production of fine chemicals and processing of technical textiles. (GK)
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