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Germany based companies merge for technical textiles expansion

YarnsandFibers News Bureau 2016-06-01 16:51:00 – Germany

Two Germany-based technical textiles companies, Olbo & Mehler Tex (OMT) and Synteen & Luckenhaus (SL), have joined forces to allow business expansion to new markets and markets segments.

Both companies are part of KAP group, listed on the Frankfurt Stock Exchange, and both are dedicated to the production of technical textiles, complementing each other. They will join activities and business operations under the leadership of a management team led by the Portuguese Alberto Tavares, leader of Olbo & Mehler Tex.

New possibilities will open up to Olbo & Mehler Tex on new market segments, namely in the market of textiles used in the construction of swimming pools, protective or shading barriers, in the automotive industry, the oil industry and in the construction industry, among other areas.

Syntenn & Lückenhaus has a production unit in the Czech Republic and sales offices in Germany and the United States of America.

In order to enhance market synergies, this merger of two businesses into one will have the consolidated turnover of around 60 million euros.

Matching of know-how and the capabilities to develop customized solutions and innovative products to apply in diversified areas is one of the main goals of this operation.

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