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Press Release
H&V announces Apizaco, Mexico mill to become wholly-owned subsidiary
East Walpole, Massachusetts, January 9, 2006: Hollingsworth & Vose Company announces the acquisition of the minority interest in the filtration materials mill in Apizaco, Mexico. The Mexico mill was originally established in 1981 as Hovomex, a joint venture with Morodo Santistaban S.A. de C.V. This transaction is part of H&V's multi-year capital campaign to strengthen service and supply capabilities to customers worldwide. This includes recent investments in the United States, the United Kingdom and Germany and the establishment of a greenfield site in China.
Val Hollingsworth, President and CEO of H&V, commented, “This is an initial step in a process of continued investment in our Apizaco, Mexico mill. The investment is aimed at supporting our regional and global engine and industrial filtration customers. We greatly appreciate the leadership that Enrique Morodo and the Morodo family have provided over the past 25 years. They have been outstanding joint venture partners.”
For further information, contact Charles F. Miller, VP and General Manager, Engine and Industrial Filtration at cmiller@hovo.com
About H&V
Established in 1843, Hollingsworth and Vose Company is a global leader in the supply of technically advanced engine, high efficiency and liquid filtration media, battery separator materials and industrial nonwovens. H&V drives value in customers' products by inventing next-generation materials with superior performance. H&V's expertise and process capabilities include wet-laid, dry-laid, melt blown and composite technologies. The company operates 12 manufacturing sites and 9 research centers in Europe and North America, and has recently begun construction of a greenfield site in China.
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