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8-K - FORM 8-K - AVINTIV Specialty Materials Inc. | d739549d8k.htm |
EX-4.2 - EX-4.2 - AVINTIV Specialty Materials Inc. | d739549dex42.htm |
EX-4.1 - EX-4.1 - AVINTIV Specialty Materials Inc. | d739549dex41.htm |
EX-10.1 - EX-10.1 - AVINTIV Specialty Materials Inc. | d739549dex101.htm |
Exhibit 99.3
9335 Harris Corners Parkway Suite 300 Charlotte, NC 28269
Polymer Group Acquires Providência
Worlds Leading Nonwovens Company Adds Brazilian Nonwovens Manufacturer to Support Global Growth Strategy
CHARLOTTE, N.C. June 11, 2014 Polymer Group, Inc. (PGI) today announced that it has acquired a controlling interest in Companhia Providência Indústria e Comércio [Bovespa: PRVI3] (Providência), a Brazilian-based manufacturer of nonwovens used in personal hygiene, healthcare and industrial applications. The acquisition is another significant milestone in PGIs strategy of accelerated global growth, as Providências leadership in Latin America enables PGI to serve an even broader range of customers in the Americas and globally.
For PGI, the world leader in nonwovens, the addition of Providência creates opportunities for both companies to explore products, technologies and services to better meet customers needs through an unbeatable combination of innovation, quality and service. Providência will immediately begin operating under the PGI brand name.
Providência has built a strong business on its commitment to long-term relationships with its customers and innovative products and technologies for the hygiene, healthcare and industrial segments, said J. Joel Hackney Jr., Chief Executive Officer for PGI. We believe this is the right time for this acquisition as it positions PGI for continued, accelerated growth in Latin America and across the globe. PGI and Providência are stronger together.
PGI welcomes Hermínio Vicente Smania de Freitas, Chief Executive Officer at Providência, to the leadership of PGI, and the Providência team to the PGI family. De Freitas joins PGI as President of PGIs South America Region, which includes Argentina, Brazil, and Colombia. He will also continue to serve as CEO of Providência. Scott Tracey will serve as President of PGIs North America Region, which includes Canada, Mexico, and the U.S.
At PGI were committed to successfully executing our growth strategy through the achievement of economic leadership, growth in new applications, winning in emerging markets, and developing and recruiting top talent, said Hackney. This acquisition supports that strategy, as we work to create a safer, cleaner, and healthier world.
Click here to learn more about PGIs innovative products and technologies.
About PGI
PGI is a global, technology-driven developer, producer and marketer of engineered materials, and one of the worlds leading producers of nonwovens. With 24 locations in 14 countries, an employee base of approximately 5,000 employees and the broadest range of process technologies in the nonwovens industry, PGI is a global supplier to leading consumer and industrial product manufacturers. PGIs manufacturing facilities are strategically located near many key customers, working closely with them to provide engineered solutions to meet increasing demand for more sophisticated products. |
About Providência
Founded in 1963, Providência is a leader in the manufacture and sales of nonwovens in Brazil with a presence in the Americas and operating globally. The companys innovative technologies for nonwovens manufacturing serve a broad range of customers, particularly in the hygiene, healthcare and industrial sectors.
Media Contact:
Mark Van Hook Capstrat for PGI P: 919.745.3689 E: mvanhook@capstrat.com
Financial Contact:
Dennis Norman Executive Vice President & Chief Financial Officer Polymer Group, Inc. P: 704.697.5186 E: normand@pginw.com |