Lydall Technical Nonwovens Divests Geosynthetic Installation Business
May 10 2019 - 9:00AM
Lydall, Inc. (NYSE:LDL), through its wholly-owned subsidiary Texel
Technical Materials, Inc. (“Lydall”), announced today that it
completed the sale of Texel Geosol, Inc. (“Geosol”) on May 9, 2019
to FC Géosynthétiques, Inc. (“FC”). Geosol installs
geosynthetic products in the civil engineering and environmental
protection sectors, principally within the province of Quebec,
Canada.
“The divestiture of Geosol follows Lydall’s strategy to focus on
our core technologies and capabilities that improve our
effectiveness and positioning as a specialty materials provider,”
said Dale G. Barnhart, President and CEO of Lydall, Inc.
“We have found the ideal purchaser that shares our passion for
this business and its people. FC’s deep expertise in
geosynthetics installation and their local market knowledge
positions them well as the new owner of Geosol. Additionally,
Texel’s continued supply of geosynthetic materials to FC ensures
end customers will maintain access to high quality products and
service,” said Joe Abbruzzi, President of Lydall’s Technical
Nonwovens segment.
Texel Technical Materials Inc. is a wholly-owned subsidiary of
Lydall, Inc. (NYSE:LDL), a New York Stock Exchange listed company,
headquartered in Manchester, Connecticut with global manufacturing
operations producing specialty engineered products for the
thermal/acoustical and filtration/separation markets. For
more information, visit http://www.lydall.com. Lydall® is a
registered trademark of Lydall, Inc. in the U.S. and other
countries.
For further information:
Brendan Moynihan
Vice President, Financial Planning
and Investor Relations
Telephone 860-646-1233
Facsimile 860-646-4917
info@lydall.com
www.lydall.com
Lydall (NYSE:LDL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Lydall (NYSE:LDL)
Historical Stock Chart
From Jul 2023 to Jul 2024