Bonar Technical Fabrics & Colbond to merge under parent company's drive for global growth

12/04/2012

From: Bonar Technical Fabrics NV, Industriestraat 39, 9240 Zele, Belgium
          www.bonartf.com, info[at]bonartf.com            

BONAR TECHNICAL FABRICS & COLBOND TO MERGE UNDER PARENT COMPANY’S DRIVE FOR GLOBAL GROWTH  

Zele, Belgium  (April 4, 2012) –  Bonar Technical Fabrics and Colbond announced today that the two companies will merge under organizational changes being introduced by their parent company Low & Bonar Plc, a multinational group of high performance technical textile producers. The changes are aimed at accelerating growth and putting the Group on a clear path to globalization.

The portfolios of Bonar Technical Fabrics and Colbond are complementary. The merger will create an organization that has the scope and scale necessary for further sustainable global growth. Orwig Speltdoorn, a member of the Executive Management Team of Low & Bonar for many years and Managing Director of Bonar Technical Fabrics will lead the integration. He will be supported by Bart Austin, a long-standing member of Colbond’s Management Team. Jan van Boldrik, who has served as CEO of Colbond for 15 years has been appointed as Managing Director of Low & Bonar’s Coated Fabrics Division Mehler Texnologies.

Steve Good, Group Chief Executive, Low & Bonar Plc, commented: “These changes are designed to enhance our global reach, accelerate growth, and balance our great operational strengths with a strategic, longer-term market focus. The merger of Bonar Technical Fabrics and Colbond will create a strong platform for further top-line growth and an even wider technology portfolio for our customers.”

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