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Tamfelt Corp has agreed to buy 80% of PPH Totaltex Sp zoo, based in Poland, while 20% will remain in the ownership of the President of Totaltex, the company says. The purchase price has not be published.
Totaltex, a leading supplier of wet filtration media, also makes dry filtration fabrics. It was established in 1988 and the net sales amount to approximately 2 0000,000. According to Tamfelt, the filter fabric market in Poland is very promising -for example, the mining and food industry uses filter fabrics in its processesmaking it important for the company to get a foothold there.
As well as this, tightening environmental regulations in Eastern Europe will reportedly increase the need for quality filter products. "Tamfelt's aim is to develop and increase the operations of Totaltex," says Jyrki Nuutila, Tamfelt's President and CEO. "Up till now, Totaltex has operated mainly in the Polish market. As a part of Tamfelt group, they can utilize Tamfelt's export network for their increasing exports.
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