CLOVERDALE, CA, November 15, 2013-

Polymer Group Inc.'s purchase of Fiberweb plc has been completed, creating the world's largest nonwovens company, according to the Charlotte, North Carolina-based acquirer. The deal was announced and completed very rapidly: a formal offer for Fiberweb stock, valuing the target company at almost GBR183 million, was only made about eight and a half weeks ago, on September 17.

Competitors, suppliers and customers will be watching the new nonwovens giant in coming weeks to see how it proceeds. PGI said weeks ago it was looking at Fiberweb to explore possible changes in headcount and assets needed to exploit potential synergies and remove unneeded costs.

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