Pegas Nonwovens SA, one of the leading global producers of nonwoven textiles for use primarily in the personal hygiene products market from the Czech Republic to build a state-of-the-art manufacturing facility in Atlantis, in the Western Cape, with an investment to the tune of R1-billion.
The Western Capeâ€™s tourism, trade and investment promotion authority and Into South Africa, an investment advisory firm, plan to make an official announcement on Wednesday about the investment. The investment is one of the biggest foreign direct investments in manufacturing in the Western Cape since 2011, came after months of negotiations and due diligence reports.
Currently PEGAS runs two plants with a total of 8 production lines in the Czech Republic and one production line in Egypt. The total production capacity of the Company is currently up to 110 thousand tonnes of nonwoven fabric per annum.
PEGAS consists of a parent holding company in Luxembourg and four operating companies, PEGAS NONWOVENS s.r.o., PEGAS-NT a.s., PEGAS - NW a.s. and PEGAS â€“ NS a.s., all located in the Czech Republic.
Pegasâ€™s investment in the manufacturing facility in Atlantis will also create hundreds of jobs for local residents.
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