Hoftex Group

Tenowo GmbH, part of the Hoftex Group, will invest approximately €8 million over the next three years to build a state-of-the-art production line for technical textiles at its site in Hof, Germany.

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.