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Polymer Group announces acquisition of Providencia

News | January 29, 2014 | By:

Nonwovens company acquires Brazil manufacturer two months after purchase of Fiberweb.

Charlotte, N.C.-based Polymer Group Inc. (PGI) announced in a Jan. 27 press release that it has signed an agreement to acquire a controlling interest in Companhia Providencia Industria e Comercio (Providencia), a Brazilian manufacturer of nonwoven materials used in hygiene, healthcare, and industrial applications.

The release stated: “This acquisition further accelerates PGI’s global growth strategy by extending its presence into Brazil, an attractive and high-growth region, and enhancing its capabilities in North America.”

PGI has nonwovens operations in 13 countries across North America, South America, Europe, and Asia. The acquisition of Providencia will enable the company to serve a more diverse range of customers in Latin America, according to the release.

In November 2013, PGI completed its acquisition of Fiberweb Inc., the Nashville–based manufacturer of specialty nonwoven products and materials. As a result of that acquisition, PGI became the world’s largest manufacturer of nonwovens, according to its Nov. 15 press release.

For more information: Polymer Group Inc.

Source: PGI

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