TenCate Acquires Artificial Grass Fiber Company Mattex
The Netherlands-based Royal Ten Cate has completed its acquisition of the United Arab
Emirates-based Mattex Leisure Industries for $178 million.
Mattex, a manufacturer of artificial grass fibers, will be incorporated into TenCate Thiolon Middle East LLC, a new company that will be wholly integrated into Royal Ten Cate's Grass Group.
The company expects the new business to make a strong contribution to its net profit as a result of TenCate Thiolon's low cost base and favorable local tax regulation.