TenCate Protective Fabrics Americas, the market leader in protective fabrics for the Fire Service, Industrial and Defense markets, has reached an agreement regarding an asset transaction with Difco Performance Fabrics Inc. in Montreal (Quebec, Canada). This transaction will further increase the commercial presence and manufacturing activities of TenCate in the US and Canadian protective fabrics markets.
Among the assets being purchased by TenCate are all of Difco’s brand names and other intellectual property associated with Difco’s protective fabrics product portfolio. This transaction is in line with the strategy of TenCate to expand its activities in these markets both geographically and through a broadening of its product portfolio.
Difco is a recognised producer of protective fabrics in the Canadian and North American markets. This strategic transaction will be an important step for TenCate Protective Fabrics in the formation of a stronger presence in the Canadian protective fabrics market in particular and throughout North America as a whole. This transaction will lead to a larger market share for TenCate in the aforementioned regions, as a result of a broader product offering and enhanced innovation capabilities to meet the market’s evolving needs.
The purchase process should be completed in the next few weeks. No financial details will be published in this stage.
Royal Ten Cate
Almelo, the Netherlands, Wednesday, 4 May 2011