# TWE Group acquires 50% stake in Obeetee Textiles for nonwovens JV

TWE Group GmbH acquired a 50% stake in Obeetee Textiles (OTL) to form a 50:50 joint venture, TWE OBT, which will set up a new facility in India to manufacture nonwoven products for the health and hygiene sector.

- Type: Acquisition
- Announced: 2023-05-31
- Where: India, India
- Value: $12.5M (11.5M EUR)
- Status: announced
- Products: nonwoven products for health and hygiene
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [TWE Group](https://endata.com/companies/20590.md) (acquirer)
- [Obeetee Textiles](https://endata.com/companies/70574.md) (target)
- [Obeetee Pvt Ltd](https://endata.com/companies/70597.md) (partner)

## Sources

- [business-standard.com](https://www.business-standard.com/companies/news/twe-group-gmbh-obeetee-textiles-set-up-strategic-jv-for-nonwovens-123053100393_1.html), 2023-05-31: "Nonwovens is an important sector but the high-end technical solutions have always been imported from Europe or China."
- [infashionbusiness.com](https://infashionbusiness.com/home/news_details/666/9), 2023-06-01: "TWE OBT will aim to substitute imports."
- [textileinsights.in](https://textileinsights.in/nonwovens-to-get-boost-with-twe-acquiring-50-stake-in-obt/), 2023-06-01: "We are confident that the joint venture will unlock new opportunities, drive innovation, and create long-term value for our customers and stakeholders."
- [nonwovens-industry.com](https://www.nonwovens-industry.com/breaking-news/twe-group-obeetee-textiles-form-joint-venture-in-india/), 2023-06-20: "TWE Group and Obeetee Textiles (OTL) have announced a strategic joint venture in which TWE and OTL, a leading manufacturer of nonwoven textiles in India, have entered into a 50:50 partnership."
- [indiantextilejournal.com](https://indiantextilejournal.com/twe-group-and-obeetee-textiles-form-joint-venture-in-india/), 2023-06-27: "TWE Group and Obeetee Textiles (OTL) have announced a strategic joint venture in which TWE and OTL, a leading manufacturer of nonwoven textiles in India, have entered into a 50:50 partnership."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.