Weinheim, Germany (May 12, 2020) – The global technology group Freudenberg acquired 100 percent of the shares in Low & Bonar PLC, London, United Kingdom. Freudenberg submitted an offer in September 2019. The Low & Bonar shareholders approved the sale in November 2019, the European Commission authorized the merger on April 17. Low & Bonar PLC will be delisted from the London Stock Exchange on May 13 at 8 AM local London time. Low & Bonar is a global manufacturer of technical textiles. The company will be integrated in the Freudenberg Performance Materials Business Group.
Dr. Frank Heislitz, CEO of Freudenberg Performance Materials emphasizes: “As a pioneer in spunbonded nonwoven production, Freudenberg has offered its customers materials manufactured with a one-step production process since 1968. Thanks to the two-step process solution from Low & Bonar, we can be even more flexible and individually tailor products to customer specifications.” Freudenberg can also expand on its broad product range. This is particularly true for the current application in the construction, interior build out, home textile and automotive sectors.
“Freudenberg strengthens its performance materials business, and with Low & Bonar’s innovative technology it can further expand its technological know-how”
Dr. Mohsen Sohi
Freudenberg Group CEO
“We are also opening new fields for Freudenberg with new applications thanks to Low & Bonar’s complementary technologies,” says Heislitz. The acquisition of Low & Bonar which was founded in 1903 and headquarters in London means Freudenberg Performance Materials now has 35 production facilities in Asia, Europe and North America (previously 24) and employees some 5,500 employees (previously some 4,000).
Same views on quality and sustainability
Just like Low & Bonar, Freudenberg uses leading edge technologies to develop and manufacture its fabrics and textiles and for refining textiles and materials. The products from both companies are top quality. Freudenberg and Low & Bonar also have identical sustainability processes. The goal of both companies is to be responsibly sustainable in their actions. Sustainability is integrated in the entire product cycle, including the use of raw materials and energy as well as the entire manufacturing process. International standards are not merely satisfied but exceeded.
About Freudenberg Performance Materials
Freudenberg Performance Materials is a leading global supplier of innovative technical textiles for a broad range of markets and applications such as apparel, automotive, building materials, energy, filter media, healthcare, building interiors, shoe and leather goods as well as specialties. The Business Group generated sales of 890 million euros in 2019. Today, Freudenberg Performance Materials has 35 production sites around the world in 17 countries and has some 5,500 employees. Freudenberg Performance Materials attaches great importance to social and ecological responsibility as the basis for its business success.
About the Freudenberg Group
Freudenberg is a global technology group that strengthens its customers and society long-term through forward-looking innovations. Together with its partners, customers and research institutions, the Freudenberg Group develops leading-edge technologies and excellent products and services for more than 40 markets and for thousands of applications: seals, vibration control technology components, technical textiles, filters, cleaning technologies and products, specialty chemicals and medical technology products.
Strength of innovation, strong customer orientation, diversity, and team spirit are the cornerstones of the Group. Commitment to excellence, reliability and proactive, responsible action have been part of the company’s core values as practiced for more than 170 years.
In 2019, the Freudenberg Group employed approximately 49,000 people in some 60 countries worldwide and generated sales of more than €9.4 billion. For more information, please visit www.freudenberg.com.