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Beaulieu International Group has signed a share purchase agreement to acquire all shares of IFG Asota GmbH, an Austria-based fiber producer.
IFG Asota has expertise in polypropylene, polyamide, polyethylene and biopolymer fibers such as PLA, serving markets including flooring, automotive and filtration.
“Our ambition is clear,” says Jean-Baptiste De Ruyck, CEO of Beaulieu International Group. “We are building a flexible and agile global platform that reinforces our leadership, strengthens our presence in existing markets and opens the door to new territories. The acquisition of Asota accelerates this journey.”
In connection with the acquisition, IFG Exelto will enter into a toll manufacturing agreement with Beaulieu Fibres International (BFI) upon closing. Under the agreement, Exelto will manufacture fibers on behalf of BFI to help ensure production capacity and maintain customer service levels. Financial terms were not disclosed.