Polymer Group Inc. (PGI, Charlotte, N.C., USA) announced on Nov. 15 that it has completed its acquisition of U.K.-based Fiberweb plc, a global developer and manufacturer of specialty nonwoven products and materials for a variety of industrial end markets. As a result of the acquisition, PGI is the world’s largest manufacturer of nonwovens.
The acquisition of Fiberweb marks a critical step in PGI’s strategy of accelerated and sustainable growth, bringing both companies into new market segments and expanding PGI’s global footprint. PGI now operates in 13 countries with an employee base of approximately 4,000 employees. Through the combination of the companies, PGI can now serve a broader range of global customers across North America, South America, Europe and the Asia-Pacific region with what is said to be an unmatched portfolio of technologies and products, and world-class service.
“This is a milestone in our proud history and a critical moment for our industry,” says J. Joel Hackney Jr., CEO of PGI. “PGI and Fiberweb are stronger together, and we are now well-positioned to deliver on the industry’s growing demand for global scale, innovation and leadership.”
“We are commibed to investing and growing our presence in our key market segments as well as those in which Fiberweb operates,” said Hackney. “We look forward to welcoming the Fiberweb team as they join us in our mission of creating a safer, cleaner, healthier world for our families and communities.”