- Freudenberg acquired 100% of Low & Bonar shares in September 2019.
- The European Commission authorized the merger on April 17.
- Low & Bonar will be delisted from the London Stock Exchange on May 13 at 8 AM local time.
- Freudenberg Performance Materials now has 35 production facilities and 5,500 employees.
Acquisition Details
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, and 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.
Integration and Expansion
Low & Bonar, a global manufacturer of technical textiles, will be integrated into the Freudenberg Performance Materials Business Group. This acquisition allows Freudenberg to expand its technological know-how and product range, particularly in the construction, interior build-out, home textile, and automotive sectors. Freudenberg Performance Materials now has 35 production facilities in Asia, Europe, and North America, up from 24, and employs approximately 5,500 people, up from 4,000.
Technological Synergies
Freudenberg, a pioneer in spunbonded nonwoven production, has been offering materials manufactured with a one-step production process since 1968. With Low & Bonar's two-step process solution, Freudenberg can be more flexible and tailor products to customer specifications. This acquisition also opens new fields for Freudenberg with new applications thanks to Low & Bonar’s complementary technologies.
Quality and Sustainability
Both Freudenberg and Low & Bonar use leading-edge technologies to develop and manufacture high-quality fabrics and textiles. They share identical sustainability processes, aiming to be responsibly sustainable in their actions. Sustainability is integrated into the entire product cycle, including the use of raw materials and energy, as well as the entire manufacturing process. Both companies exceed international standards in this regard.
