Major Investment Bonar in New Manufacturing Facility in China
Netherlands (ots/PRNewswire)
Low & Bonar's division Bonar, a multinational group of producers and suppliers of performance technical textiles operating worldwide, announces that it will be building a new factory at Changzhou, in the Yangtze river delta near Shanghai, China.
(Photo: http://photos.prnewswire.com/prnh/20140428/683981-a )
The new factory will use Bonar's unique Colback technology to supply the fast-growing and important carpet tile backing and automotive markets in Asia. In the flooring industry, Colback is widely used as a primary backing in carpet tiles, high-grade patterned wall-to-wall carpeting and walk-off mats. The dimensional and thermal stability of Colback prevents carpets from bowing and skewing during processing and makes installation, especially pattern repeat, easier.
The total cost of the investment will be circa EUR32m spread over two years, starting towards the end of this year, and will be funded from Bonar's own resources. Production is expected to commence in 2016 and sales and technical support will be provided by the recently formed team located in Shanghai.
Marc Krauth, Bonar's Global Business Director Interior & Flooring: "Our decision to invest in a new factory in China to support the fast-growing Asian markets is consistent with our strategy and will consolidate our position as global leader in the carpet tile backing and automotive markets."
Bob Elzen, Corporate Account Manager: "This investment is an exciting opportunity to capitalise on our unique technology base both domestically and in Asia and to follow, and support, our strategic US customers moving into the Asian Pacific region. This state-of-the-art production facility will provide a strong platform for our further growth."
About Bonar
Bonar is a leading producer and supplier of high-quality nonwovens, wovens, knitted fabric, three-dimensional polymeric mats, construction fibres and composites for Civil Engineering, Interior, Transportation, Construction, Agro and Industrial applications.
The company's production facilities are based in Emmen and Arnhem (the Netherlands), Lokeren and Zele (Belgium), Obernburg (Germany), Tiszaújváros (Hungary), Ivankapri Nitre (Slovakia), Asheville (USA) and through joint ventures in Jiangsu (China) and in Yanbu (Saudi Arabia).
Bonar is part of Low & Bonar, listed on the London Stock Exchange. Low & Bonar employs more than 2,000 people worldwide, with 1,200 people working in Bonar and its joint ventures.
Photo: http://photos.prnewswire.com/prnh/20140428/683981-a
Contact:
For further information, please contact: Jos Waltmans,
Communications Manager Bonar, +31-6-11007399