RICHMOND, Va., April 24, 2012 /CNW/ - Filtrona plc ("Filtrona") today announces that it has completed the acquisition of 100% of the share capital of Jae Yong Co. Ltd ("Jae Yong") in its Porous Technologies division.
Based in South Korea, Jae Yong is a globally recognized manufacturer of reservoirs, nibs, and tubes for the writing instruments industry. The acquisition of Jae Yong expands Filtrona Porous Technologies' offering in the writing instrument industry from ink-management reservoirs to include other critical components for markers, highlighters, and ink-based writing instruments. The transaction also enhances the division's geographic presence in the growing Asia-Pacific region.
Commenting on today's announcement, Russ Rogers, President of Filtrona Porous Technologies, said: "The acquisition of Jae Yong is an exciting opportunity for Filtrona Porous Technologies. Through combining the efforts of both companies, it will allow us to deliver an expanded product portfolio of high-quality, innovative components and excellent service for writing instruments to customers around the globe."
About Filtrona Porous Technologies:
Producing globally and delivering to 56 countries, Filtrona Porous Technologies is a developer and manufacturer of custom fluid handling components engineered from bonded fiber, polyurethane foam, and porous plastic technologies. Its components represent leading technology used in healthcare, consumer, and industrial applications that require the absorption, filtration, transfer, venting, or controlled release of liquids and vapors. Filtrona Porous Technologies is a division of Filtrona plc and is headquartered in Richmond, Virginia, USA, with manufacturing locations in Richmond, Virginia and St. Charles, Michigan, USA; Reinbek, Germany; Ningbo, China; and Dangjin, South Korea.
About Filtrona plc:
Filtrona plc ("Filtrona") is a FTSE 250 company and a leading international supplier of speciality plastic, fibre and foam products with four operating divisions: Protection & Finishing Products, Porous Technologies, Coated & Security Products, and Filter Products. Filtrona focuses on the light manufacture and distribution of high volume, essential components which serve customers in a wide variety of end-markets and geographies.
Headquartered in the United Kingdom, Filtrona's global network extends to 28 countries and includes c. 4,000 employees, 33 principal manufacturing facilities, 63 sales & distribution operations and 5 research & development centres.
SOURCE Filtrona Porous Technologies
For further information:
Filtrona Porous Technologies, Elizabeth Joyner, Marketing Co-ordinator, +1-804-524-4983; or Filtrona plc, Joanna Speed, Corporate Affairs Director, +44 (0)1908-359100
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