Fiberweb to sell Hygiene business
Fiberweb, an international industrial fabrics producer, saw its share price leap 24% after saying that it plans to sell the majority of its Hygiene business, which would allow the firm to repay all of its existing debt.
Fiberweb, an international industrial fabrics producer, saw its share price leap 24% after saying that it plans to sell the majority of its Hygiene business, which would allow the firm to repay all of its existing debt.
The remaining more focused Industrial business will employ a much strengthened balance sheet to accelerate its development towards its target of becoming a leader in attractive segments of the growing markets for technical fabrics and geosynthetics.
Meanwhile, the company's trading volumes in the period were stable, though weaker than expected, for the 19 weeks to 10 November, resulting in year-to-date growth of around 2%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In Industrial, shipments to residential construction customers in Europe and North America were lower, impacted by weak markets, while Filtration sales have been stable.
The firm pointed out that the sharp increase in raw material prices in the first half has materially abated and average polymer prices are now close to the level seen at the start of the year, but said the full extent of the margin recovery has been limited by increases in other input costs.
The share price rose 24.07% to 50.25p from 09:57.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Just Group has the wind behind it – should you invest?
Just Group, a retirement products provider, is well placed to profit from a growing annuity market
-
8 of the best houses for sale for around £500,000
The best houses for sale for around £500,000 – from an 1850s property in Great Yarmouth with a viewing tower overlooking the harbour, to an apartment in period property with a private residents’ garden in Greenwich