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Pegas Nonwovens SA confirms its intention to invest in a production plant in South Africa

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Pegas Nonwovens - [http://www.textilegence.com/wp-content/uploads/2013/11/pegas_nonwovens_egyptian_production_plant_has_started_delivering_h2351.jpg] Pegas Nonwovens - [http://www.textilegence.com/wp-content/uploads/2013/11/pegas_nonwovens_egyptian_production_plant_has_started_delivering_h2351.jpg]

Pegas Nonwovens SA (hereinafter "PEGAS " or "Company") announces that it has confirmed its intention to invest in a production plant in the Republic of South Africa.

At yesterday's press conference, PEGAS confirmed its continued interest in the purchase of a land parcel for the construction of a new production plant in the Republic of South Africa. The press conference was held in Cape Town, with the Premier of the Western Cape, Helen Zille and the city's Mayor, Patricia de Lille present.

"PEGAS is very interested in realising its investment in the Republic of South Africa. Therefore, we greatly appreciate the support that we are receiving from the local authorities and which we sincerely hope will lead to an acceleration of the land purchase process. The final decision regarding the construction of the plant and the ordering of a new production line continues to be subject to the finalisation of negotiations with customers. In the first phase of the project, the planned investment would amount to approximately EUR 30-35 million. The production line should have an annual production capacity of 10 thousand tonnes and it is expected to be put into operation at the end of 2018", said František Řezáč CEO of PEGAS NONWOVENS s.r.o. and member of the PEGAS NONWOVENS SA Board of Directors.

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