On August 4, 2020, the global manufacturer of nonwovens Fitesa Corp., Porto Alegre/Brazil, announced that it has entered into a sale and purchase agreement to acquire the personal care films business of Tredegar Corp., Richmond, VA/USA. Thus the company continues to grow and expand its innovative product portfolio.
The personal care film business has approximately 400 employees worldwide and includes manufacturing sites located in Terre Haute/USA, Kerkrade/The Netherlands, Rétság/Hungary, Diadema/Brazil and Pune/India. The acquisition strengthens Fitesa’s films, elastics and laminates business.
The closing of the transaction, which is contingent upon the satisfaction of customary conditions, is expected to occur during the 4th quarter of 2020.