Blanes - Spanish investment group Praedium, the owner of Nylstar, the producer premium polyamide yarns and fabrics, has acquired 90 per cent of acrylic fibre manufacturer Montefibre Hispania SA.
The €2 million investment will see Praedium secure a 90 per cent share of the fibre manufacturer which, based in in Burgos, Spain, will be consolidated into the Nylstar Fashion Group. The remaining 10 per cent remains in the hands of Italy's Montefibre SpA.
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