Last July, Low & Bonar announced its intention to sell its BonarAgro business and associated production unit in Lokeren to the International Fibres Group (IFG).
Today, we are delighted to report that the sale between Low & Bonar and IFG has been fully completed. We can proudly announce that our team is fully prepared to embark on a new and exciting chapter.
To better reflect our resolve and renewed approach, we have also decided to change our name to IFG Cresco NV. IGF Cresco is much more than just a name and a new entity, it illustrates and highlights our goal to continue growing as an independent and high-quality supplier of agrotextiles (e.g. screens and ground covers) and industrial fabrics. To achieve this, we will focus even more on innovation, sustainability and flexibility.
In the meantime, we are working behind the scenes on the re-branding of our agro-textiles. We have also chosen to revamp Phormium, our powerful brand, and bring it back into the foreground, as a symbol of both our renewed vigorous approach and the continuation of the proven sustainability of our solutions. Further details will be announced early 2018.