Dogi to acquire Elastic Fabrics of America - sportstextiles: Lea SportsTextiles

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Dogi to acquire Elastic Fabrics of America

01/12/2006

Spanish manufacturer of elastic fabric for the underwear, swimwear and the sportswear markets Dogi International Fabrics, S.A. has signed a Letter of Intent to acquire stretch fabrics manufacturer Elastic Fabrics of America (EFA).

The acquisition will increase the size of Dogi’s business by 20% and will make it the only stretch fabric producer covering the market across five continents.

Dogi has manufacturing plants in Spain, Germany, China, the Philippines and Thailand and is in the process of building a new plant in Sri Lanka. Its total annual production capacity exceeds 34 million metres of stretch fabrics that are marketed under the Dogi and Penn Elastic brands.

The acquisition cost is estimated at $33 million.


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