 |
|
|
|
|
|
NORDENIA Sells Shares of CORONOR |
|
|
Greven/Peine, Mar 23, 2009. NORDENIA INTERNATIONAL AG sold its 50 percent of shares in CORONOR Composites GmbH on March 19. The purchaser is the prior British joint-venture partner of NORDENIA INTERNATIONAL AG, Fiberweb plc. Fiberweb, which is a listed company, is one of the largest and leading suppliers of high-performance and special non-woven fabrics in the world. The transfer of the shares still requires the approval of the German antitrust authorities.
"The sale of shares in CORONOR is a further strategic step to simplify the corporate organization and concentrate on the core business," is the reason given by Andreas Picolin, member and Vice Chairman of the Executive Board of NORDENIA INTERNATIONAL AG, for the sale of the shares. NORDENIA focuses on products from the segments of hygiene components, surface protection films and label films, as well as flexible packaging for the consumer-goods industry.
CORONOR Composites GmbH employs 26 persons and is headquartered in Peine (Germany). Sales volume in the amount of 13.3 million euros was generated in Fiscal Year 2008. The company has belonged to the NORDENIA Group in terms of shares since 1994 and manufactures composites made of non-woven fabrics and films. The laminates are produced in an adhesive bonding and thermal lamination process and delivered in the form of rollstock and slit rollstock. The company primarily operates as a supplier for manufacturers of medical products.
Documents:
 | | Press release CORONOR (german)
[15 KB] | | | | Press release CORONOR (english)
[15 KB] | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
