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Spuntech awarded large contract

$65 million order from repeat customer

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By: Karen McIntyre

Editor, Nonwovens Industry

According to Israeli news outlet Haaertz, nonwovens maker NR Spuntech Industries announced Tuesday it has won a giant $65 million supply contract to be rolled out over the next two years. The company, which operates two plants in Israel and a third in North Carolina, said the contract was a follow-on order from a major, unnamed customer. This order  that is 50% bigger than an customer’s original one, which spanned 2012-2014.

Spuntech announced last yer it would  adding a second U.S. production line in the third quarter of next year at a cost of $50 million. The new line will increase its current capacity of 28,000-36,000 tons annually by an additional 22,000. For the first half of 2014, Spuntech’s sales were $70 million, generating earnings before interest, taxes, depreciation and amortization of $10.5 million.

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