Nonwovens To Get Boost With TWE Acquiring 50% Stake In OBT
Germany based manufacturer of nonwovens, TWE Group has acquired a 50% stake in OBEETEE Textiles (OBT), an Indian manufacturer of nonwovens textiles in India.
TWE which acquired the stake for Euro 11.5 million shall extend their knowledge and expertise on technical aspects of the health and hygiene products being manufactured under this joint venture.
These products shall consist of specific components & fabrics used in manufacturing of sanitary napkins; and baby and adult diapers.
Moreover, the partnership named TWE OBT Private Limited will leverage shared resources, best practices, and synergies between TWE and OTL, optimising operational efficiencies, enhancing productivity, and driving sustainable long-term growth.
By combining the capabilities and expertise of TWE and OTL, the joint venture will offer a comprehensive range of innovative products, services, and solutions that address the evolving needs of customers.
“We are confident that the joint venture will unlock new opportunities, drive innovation, and create long-term value for our customers and stakeholders,” Mr Ingo Soller, General Manager at TWE said.
“Together, we are committed to building a successful and sustainable joint venture that will drive growth and set new industry standards,” Mr Kapil Agarwal, Group CEO, OBEETEE Textiles added.
