DuPont Filaments acquires high-technology filament manufacturer Pedex
DuPont Filaments-Europe B.V., Langraaf/NL, announced the signing of an agreement to acquire the assets of the German company Pedex, Wald-Michelbach/Germany, a specialist in high-technology brush filament manufacture. The acquisition is likely to be finalized by October 31, 2005, pending regulatory approval. Financial terms of the agreement were not disclosed.
The transaction reinforces the company's commitment to the filaments industry. As part of the agreement, DuPont Filaments-Europe will acquire Pedex's existing manufacturing assets in Wald-Michelbach, Germany, including around 130 employees. The company will also gain ownership of the various filament products and technologies marketed by Pedex, as well as its marketing and sales distribution network.
The Pedex range of products for industrial use and personal care is based on the innovative use of specialized monofilament technology. Its acquisition complements the existing DuPont Filaments' offering in these sectors, enabling the company to meet the needs of customers worldwide. Indeed, the inclusion of the Pedex business, which has a particularly strong focus in Europe, will further strengthen DuPont Filaments' overall global coverage. Further areas for synergy are created by DuPont's company-wide position as a prominent material supplier to the cosmetics industry and industrial sectors - both markets which stand to benefit significantly from Pedex's product offering.
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