sia Abrasives expands into nonwoven abrasives (08/12/2000)
sia Abrasives is taking another strategic step into the future. On 6 December 2000, the company signed an agreement in principle to acquire the entire nonwoven abrasives business operations (Fibral Abrasives, Halifax, UK) of the internationally active Freudenberg Group based in Weinheim, Germany. The transaction is subject to the satisfactory completion of due diligence procedures, which are scheduled for the course of the coming weeks. Nonwoven abrasives are complementary products to coated abrasives, which makes them an ideal addition to the product range offered by sia Abrasives and which will further strengthen the company’s position as a global provider of abrasive systems. This purchase will enable sia Abrasives to substantially boost its growth potential and competitiveness still further.
In the 1999 business year, Fibral Abrasives recorded sales of some CHF 31 million and currently employs a workforce of 140. At its production facility in Greetland, Halifax (UK), the company has manufacturing plant and equipment that use the very latest technologies. Nonwoven abrasives have a three-dimensional structure. Unlike coated abrasives, such as those manufactured by the sia Group, they do not alter the shape of the workpiece, but instead structure the surface, which provides benefits of both a functional and purely aesthetic nature. This acquisition will extend and round off the existing range of products offered by sia Abrasives for applications in the realms of automotive bodywork repairs, metalworking and polishing, as well as in the preliminary stages of microfinishing processes.
Integration in the sia Group will give Fibral Abrasives new opportunities and distribution channels for marketing its nonwoven products throughout the world. The market position of sia Abrasives will be significantly strengthened by the additional sales networks of Fibral Abrasives in the growth market of the North American continent, since sales in North America account for some 47% of net turnover for Fibral Abrasives.
The acquisition is expected to have been completed by the end of March 2001.
® Correct nomenclature for sia Abrasives Holding AG
As there are other companies and organizations that use the same abbreviation as our company, we would be grateful if you could help to avoid any misunderstandings by always writing our name as follows: sia Abrasives (never just sia by itself).
News 