Euro Air sells to KE Fibertec
The sale of Euro Air will give KE Fibertec access to a well-known brand on a number of new markets as well as to a profitable production plant in the Czech Republic. The KE Fibertec group will then count nearly 110 employees.
The acquisition of Euro Air will put KE Fibertec AS in the lead as the biggest manufacturer of textile based ventilation worldwide. A position that will form the basis of further expansion and strengthening of the two companies and our cooperation partners.
Over the last years, KE Fibertec has made heavy investments in our weaving mill and in the development and upgrading of the production process by introducing e.g. laser technology - measures that have contributed to maintaining a lucrative production in Denmark. At the same time, Euro Air has developed positively, and they recently decided to move their production activities to the Czech Republic with the administration, R&D, and sales department still remaining in Denmark.
The distributor network of both companies will continue on completely unchanged terms so that no cooperation partner will be immediately affected by the acquisition. The day-to-day contacts of both KE and Euro Air will also remain unchanged. Euro Air will continue as an independent company with their own range of products, production, and management. The priority of KE Fibertec is first and foremost to ensure future growth and to capitalize the apparent combined actions of purchase, IT, and production brought about by the acquisition. We are quite convinced that the basis of a highly positive growth in the sales of both companies is present as the companies are very complementary. In the near future all distributors and cooperation partners will be contacted with information on the possibilities of the new consolidated KE Fibertec group and to discuss the future strategy.
In connection with the sale of Euro Air, KE Fibertec has appointed Johnny Møller Knudsen (formerly Euro Air) new group production director with responsibility for the production in both Denmark and the Czech Republic. Together with Svend Anker Fogh (financial manager) and Carsten Jespersen (managing director) he will constitute the new management group of the KE group. Niels Erik Thomsen, the owner of Euro Air A/S up till now, will continue as managing director of Euro Air with approx. 35 staff members.
As from this date the KE Fibertec group consists of 5 subsidiaries: 3 sales companies in the USA, England, and Germany, respectively, as well as KE Fibertec Væveri (weaving mill) and Euro Air A/S. In 2006 the export share came to 86% of the turnover. The total KE Fibertec group now employs approx. 110 staff members worldwide.
If you have any questions about the sale of Euro Air, please do not hesitate to contact Niels Erik Thomsen at tel. +45 74 84 28 80 or Carsten Jespersen at tel. +45 75 36 42 00.
