Thrace shifting geotextile focus to Europe from USA with needlepunch line relocation
CLOVERDALE, CA, December 5, 2019-
In the latest example of needlepunch market volatility, Greece’s Thrace Group said it will relocate a needling line from its US subsidiary to a plant in Scotland, with work on the move already under way and completion expected in the first half of 2020.
Thrace just wrapped up a good financial quarter, but it said an internal reorganization effort begun last year that aims to maximize profits yielded the conclusion that the company would do better if it shifted its focus from the US geotextile market to Europe.
Not a subscriber?