Lativia-based fabric manufacturer, Lauma Fabrics has acquired 100 per cent shares in the German textile company Elastic Textile Europe. The aim is to find new clients in western markets. Lauma is a leading manufacturer of lace, elastic knitted fabric and ribbons in Europe. Its key markets are Belarus, Baltic countries, Ukraine, Poland, Russia, France. But the firm now hopes to attract new clients in western markets through the latest purchase and obtain knowhow and additional production capacities. In addition, the acquisition will strengthen Lauma’s position in the CIS countries.
Elastic Textile is a leading manufacturer of flexible fabrics, lace and innovative products for laundry, bath textiles as well as sportswear and technical textiles. Elastic specialises in rich, soft and modern fabrics used for the making of shaping underwear. The company supplies its Elastic brand products to leading producers of lingerie in Europe.
Lauma and Elastic will establish an integrated strategy to develop a modern and innovative production that is able to offer clients original products of high quality at competitive prices. The combine would retain production of goods manufactured by the German textile firm in addition it would also be manufacturing high value-added textile goods as well as Lauma Fabrics products.
www.laumafabrics.com/en
