Lauma Fabrics is one of the leading manufacturers of lace, elastic knitted fabric and ribbons in Europe as part of its expansion plant has acquired 100% of shares in Neukirchen-based textile enterprise Elastic Textile Europe GmbH, one of the leading specialists for stretch fabrics in Europe and also acquired 51% stake in Elastic Textile Europe’s associated company Elastic&Weskott. As a result, a new limited liability company, LE Textile, has been established in Germany
LE Textile will offer its clients, besides the Germany-made products, also all materials produced by Lauma Fabrics. For the Latvian company, which until now sold most of its products to garment manufacturers targeting the CIS market, the deal offers a great opportunity to expand into western markets.
The German company is one of the leading elastic material manufacturers in Europe. Its annual turnover is about EUR 11 million, it employs 75 people and supplies its products to Europe’s leading lingerie makers
Lauma Fabrics turnover last year amounted to EUR 32.6 million. The company’s investment in production totaled EUR 3.4 million. The company employs 550 people. The company’s key sales markets are Belarus, Baltic countries, Ukraine, Poland, Russia and France.
Lauma Fabrics hopes that this deal will help to expand production and find new clients in western markets, Lauma Fabrics board member Edijs Eglins told the newspaper.
Loop Industries has partnered with Ester Industries to create a manufacturing facility in India to produce low-carbon recycled rDMT and…
Silk Laundry introduces its latest collection, "A View," merging conservation with fashion to foster "wearable conversations" about sustainable living.
Under Armour has introduced its first product utilizing Neolast: the Vanish Pro T-shirt, boasting lightweight, stretchy, breathable, and fast-drying qualities.
DKNY and Dubit have introduced a virtual collection of handbags, hats, and jackets from its new 'Heart of New York'…
Archroma, a leading provider of sustainable specialty chemicals, is set to unveil a comprehensive array of denim solutions at the…
Xefco has successfully secured US$6.9m in funding to advance the commercialization of its groundbreaking water-free textile dyeing and finishing solution.