Advanced Fabrics Factory Co. (SAAF)

Takween Advanced Industries Company completed the acquisition of the entire 70% equity interest held by JOFO Nonwovens Co., Ltd in Advanced Fabrics Factory Company (SAAF), making SAAF a wholly owned subsidiary.

Takween Advanced Industries Co. received a no-objection from the General Authority for Competition (GAC) to acquire the entire 70% stake held by Chinese partner JOFO Nonwovens Co. in Advanced Fabrics Factory Co. (SAAF). Upon completion, Takween will own 100% of SAAF.

Takween Advanced Industries signed a share purchase agreement with JOFO Nonwovens to acquire its entire 70% stake in Advanced Fabrics Factory Co. (SAAF), making Takween the sole owner.