Composite Fabric,bonded fabric,Lamination Fabric Lamination Fabric News Fu Mao invests in Schoeller to upgrade fabric competitiveness

Fu Mao invests in Schoeller to upgrade fabric competitiveness



Fumao, a major Taiwanese plain weaving fabric manufacturer, has strengthened its cooperation with Swiss Schoeller Textil AG and is expected to invest 40 million Swiss francs to obtain 50% of the equity. After t…

Fumao, a major Taiwanese plain weaving fabric manufacturer, has strengthened its cooperation with Swiss Schoeller Textil AG and is expected to invest 40 million Swiss francs to obtain 50% of the equity. After the announcement, the stock price was relatively calm on October 18, 2019. , the rally was not strong, with more than 200 buy and sell orders each in early trading, showing a tug of war between long and short forces.

The stock price rose 0.1 yuan in midday trading, temporarily closing at 35 yuan, an increase of 0.29%.

Fumao, the main textile and fabric manufacturer of Formosa Plastics Group, approved on the 17th that the board of directors will participate in the cash capital increase of Schoeller Textil AG. Fumao plans to invest 40 million Swiss francs (approximately NT$ 1.23 billion) to obtain 50% of the equity of the other party. This is a rare large-scale investment case for Fu Mao. It shows that Fu Mao wants to use the R&D energy of Swiss business to upgrade its own fabric competitiveness.

It is understood that SchoellerTextil mainly provides innovative textiles and textile technologies ranging from outdoor, military and industrial use, while Fumao enters the market with apparel and industrial use. Mainly using the two and deepening cooperation with Schoeller Textil will help Fumao continue to maintain its position as the largest plain weaving manufacturer in the country.

However, the investment case did not stimulate the stock price to rise. Fumao launched an ex-dividend of 2.1 yuan on July 17, 2019, and it is currently in a discounted state. It is currently operating in the third quarter. Revenues reached NT$11.345 billion, a slight increase of 0.07% from the same period in 2018. The third quarter has always been the peak of annual single-quarter profits. However, revenue in the third quarter of this year fell by 8.29% quarter-to-quarter, which also made the legal person conservative. manner.

Despite the pessimistic market, Fumao has continued to invest in the development of recycled PET bottle fabrics in recent years in response to environmental protection trends. Last year, it shipped 5,000 tons of recycled polyester fiber. This year, it will It has surged to more than 6,000 tons, and is estimated to grow by at least another 10% in 2020. In addition, the latest technology is to re-make nylon fabric from discarded fishing nets. It is expected to start shipping in mid-2020, which is expected to become a new growth driver for the company.

This article is from the Internet, does not represent Composite Fabric,bonded Fabric,Lamination Fabric position, reproduced please specify the source.https://www.yjtextile.com/archives/5833

Author: clsrich

 
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