Takween Advanced Industries

Jofo Nonwovens is acquiring Advanced Fabrics (SAAF), a Saudi Arabian manufacturer of spunmelt nonwovens for medical and hygiene applications. The acquisition is expected to close in early 2021.

Jofo Nonwovens signed a non-binding MoU to acquire a 70% stake in Saudi Arabia Advanced Fabrics Company (SAAF) from Takween Advanced Industries. The fair value of SAAF is about $82 million.

Takween Advanced Industries signed a non-binding MoU with China's Jofo Nonwovens to sell a 70% stake in its subsidiary Advanced Fabrics Factory. The fair value of the entire subsidiary is set at SAR 307.5 million.