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Nonwovens / Technical Textiles

BBA Acquires Tecnofibra

London-based BBA Group PLC recently announced its pending acquisition of Italy-based Tecnofibra S.p.A., a privately held nonwovens manufacturer. According to BBA, the company has agreed to an acquisition price of 31.8 million euros on a debt-free, cash-free basis. Completion of the transaction is expected by the end of the year.Tecnofibra develops, produces, markets and distributes spunlaced, thermobonded and needlepunched nonwoven material for the European wipes market. For the year ended December 31, 2002, the company generated 43.8 million euros in sales with margins of approximately 10 percent. BBA said the acquisition is part of the companys strategy to increase its presence in higher value-added sectors of the industrial and medical materials markets.

November 2003