Aktieselskabet Schouw & Co.
Fibertex Nonwovens acquires US company Non Woven Solutions

Aktieselskabet Schouw & Co. 

24.10.2014 22:22

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Fibertex Nonwovens, a wholly-owned subsidiary of Schouw & Co., has agreed to
acquire all shares in Non Woven Solutions LLC, a US manufacturer of nonwovens.
As part of the transaction, a previously leased property has been acquired. The
total transaction has an enterprise value of USD 25 million on a debt-free
basis. 

All preconditions for the agreement have been met, and the transaction is ready
for immediate closing. 

Headquartered north of Chicago, Non Woven Solutions generated 2013 revenue of
almost DKK 100 million. The company manufactures and sells nonwovens in various
product areas of the US market. Fibertex Nonwovens currently has only a limited
presence in this market. Establishing a presence in the United States will give
Fibertex Nonwovens unique opportunities to grow its sales of value-added
products for the composites and automotive industries in particular, but the
acquisition is also expected to have a positive effect on sales in other
product areas. 

Non Woven Solutions will not feature in the Schouw & Co. Group's consolidated
financial statements until from the takeover date. Accordingly, the
acquisition will have only a limited effect on consolidated revenue and
earnings in 2014. Schouw & Co.'s consolidated interim report for the third
quarter of 2014 is due to be released on Monday, November 3, 2014. 

For further information, see the press release issued today.



Aktieselskabet Schouw & Co.



Jørn Ankær Thomsen     Jens Bjerg Sørensen
Chairman                         President



Questions relating to the above should be directed to President Jens Bjerg
Sørensen on tel. +45 87 34 58 24.
News Source: NASDAQ OMX



24.10.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Aktieselskabet Schouw & Co.
              
               
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