Spanish investor group buys Montefibre Hispania S.A.

Praedium plans to invest €100 million ($113 million) to expand the Montefibre carbon fiber capabilities.

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Praedium has invested €2 million ($2.26 million) to acquire a 90% stake in Montefibre Hispania S.A. (Burgos, Spain). Italian Montefibre S.p.A. will keep the remaining 10%.

The group plans to revive the Montefibre brand Leacril by reopening its acrylic plant and relaunching its commercial network. Montefibre will enter the market in this new stage with 45,600 annual tons of acrylic fiber to more than 210 customers in 30 countries and expects to generate a revenue volume of €110 million ($124 million).

Praedium also plans to invest €100 million ($113 million) to expand the Montefibre carbon fiber capabilities and establish a Spanish carbon fiber producer. The group is seeking strategic partners in each of the fields of application of this material, such as infrastructure, automotive, wind power, naval and defense. Montefibre has its own technology for the production of carbon fiber from acrylic, and the aim is to allocate part of the Montefibre plant to produce 3,000 annual tons of industrial quality carbon fiber.

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