Low & Bonar starts up Colback nonwovens line in China, takes impairment charge for Saudi JV; FY profits turn up




CLOVERDALE, CA, February 11, 2016-

Britain’s Low & Bonar reported increased profit levels for its fiscal year that ended November 30, 2015 and it also revealed the start of commercial operations at its new Changzhou site in China. These positive announcements were accompanied by the news that the company took a one-time impairment charge of £8.2m for its Bonar Natpet joint venture in Saudi Arabia.

The new Chinese plant is focused on production of the company’s Colback primary carpet backing product, and it includes a new five-meter nonwovens machine. Colback is a bicomponent spunlaid product that is thermalbonded. In a typical formulation it is made with a polyester core and a polypropylene or nylon sheath.


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