Low & Bonar is based in London but still has a carpet backing manufacturing site located at Dundee’s Caldrum Works.

The firm was delisted from the London Stock Exchange yesterday marking the end of the firm’s 73 years of trading. Low & Bonar will now be integrated into the Freudenberg Performance Materials Group.

Low & Bonar issued several profit warnings last year which severely impacted the firm share price, lowering it to single digits.

Dr Frank Heislitz, chief executive of Freudenberg Performance Materials, said the two companies shared the same views on quality and sustainability. He said the acquisition would allow the German firm to expand its product range to operate in new markets.

Freudenberg Performance Materials is a leading global supplier of innovative technical textiles for a broad range of markets and applications such as apparel, automotive, building materials, energy, filter media, healthcare, building interiors, shoe and leather goods as well as specialities. 

He said: “As a pioneer in spun-bonded nonwoven production, Freudenberg has offered its customers materials manufactured with a one-step production process since 1968. Thanks to the two-step process solution from Low & Bonar, we can be even more flexible and individually tailor products to customer specifications.”

He added: “We are also opening new fields for Freudenberg with new applications thanks to Low & Bonar’s complementary technologies.” 

The Freudenberg group will now have 35 facilities in Asia, Europe and North America and has 5,500 employees.