Filidea headquarters. © Filidea

The Italian company Filidea, specialised in technical and performing products made out of natural, synthetic and artificial fibres, has announced the acquisition of Hoftex CoreTech from the German group Hoftex.

The agreement was signed last month, and the closing time for the acquisition is fixed on 1 September. Through this acquisition, Filidea says it “confirms its international dimension, consolidates its leadership within the sector of technical yarns and expands its presence in the European territory”.

The acquisition is considered by Filidea as highly strategic, as it will ensure the penetration of the Italian company into the technical yarns markets, where it was not present so far, thus strengthening its commercial presence.

Hoftex CoreTech belonged, since 2000, to the German group Hoftex, an international group operating in manifold productive areas. Through its three divisions – Hoftex (Yarns), Tenowo (Non-woven fabric) and Neutex (Home decoration), the group located in Bavaria strives towards high levels of production, research and development in the textiles sector.

In particular, Hoftex CoreTech is specialised in the production of technical yarns intended for various applications: from the sewing threads, to the automotive, protective clothing and fire-retardant furniture.

www.filidea.com