Tenowo

Tenowo GmbH, a subsidiary of Hoftex Group AG, acquired all shares of Resintex Industriale S.r.l., a Milan-based specialist in nonwovens for apparel and medical applications with annual revenue of about EUR 3.5 million and 30 employees. The purchase price was not disclosed.

Tenowo GmbH, a subsidiary of Hoftex Group AG, will sell its 49% stake in Supreme Nonwoven Industries Pvt. Ltd. to its Indian co-shareholders. The transaction is expected to complete within 24 months.

Tenowo Inc., a Hoftex Group AG business, celebrated the grand opening of its expanded plant in Lincolnton, North Carolina, in late March 2017. The expansion added a 70,000 square foot building and a new production line using Multiknit technology transferred from Germany, with a total investment of $10 million. The new line began operation in January 2017.

Tenowo, Inc. celebrated the grand opening of its expanded plant in Lincolnton, NC, involving a new 70,000 sq ft building and a new production line, with a total investment of $10 million.

Tenowo has acquired a 14,000 m² plot in Erlau near Mittweida, Germany, for a multi-million euro expansion over five years, creating at least 20 jobs. Separately, it will invest about EUR 4 million in a new tech center and administration building at its existing site.