Dralon and Kelheim form venture
Clint Engel -- Furniture Today, April 15, 2005
DORMAGEN , Germany — Dralon GmbH and Kelheim Fibres GmbH have signed a letter of intent to start a joint venture company in the area of spun-dyed (pigmented) and technical acrylic fiber.
Robert Gregan, general manager, Kelheim Fibres GmbH, said: "All of Kelheim’s acrylic business will be contributed into the JV. Dralon’s current business is not to be part of this JV. Both partners do see significant growth potential and will invest in expanding capacities as soon as possible. For the Kelheim employees, this is a significant step towards the strategic strengthening of the business in cooperation with another German-based company providing a platform for growth."
Franz Büter, managing director, Dralon GmbH, said: "This JV is our return in the growth market of spun-dyed/pigmented and technical acrylic fibers. Kelheim’s technology and experience, well-trained employees and the constructive management style are strong prerequisites for significant growth in the coming years."
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