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Fibertex Invests in South Africa

Ups ownership, adds line in SA location.

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By: Karen McIntyre

Editor, Nonwovens Industry

Fibertex Nonwovens has announced an investment program related to its South African subsidiary. The Denmark-based recently increased its ownership in the subsidiary from 26% to 74.2% by purchasing shares owned by Safyr, a South African-based company. Fibertex and Safyr, along with the Investment Fund for Developing Countries (IFC) co-founded Fibertex South Africa in 2010. IFU will retain its 25.8% ownership stake in the company.

The transaction also includes  investment in a second state-of-the-art needlepunched production line, and the simultaneous purchase of the Safyr fibre line, as well as additional land and buildings.

According to Fibertex group CEO Jorgen Bech Madsen, the deal creates an important platform for the future development of Fibertex Nonwovens in Africa. Fibertex South Africa has experienced significantly increased demand not only for products for the growing South African automotive industry and infrastructure programs, but also for industrial applications.

Fibertex South Africa CEO Chris O´Neill says he sees the capacity expansion as an important milestone for the company, in line with the company’s strategies and growth objectives, including  expansion into Africa. The increased investment in state-of-the-art production capacity not only increases work places in an area with high unemployment but also proves that South Africa is an attractive location for world class production.

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