German originated Olbo & Mehler Tex with production facilities and trading activities located in Portugal, is going to invest 4 million euros in their Portuguese plant during the next 12 month. The investment will further improve company standards with the best technology available in the market, enhance innovation capacity and optimize logistic flows.
Technical textile from Olbo & Mehler Tex is used in the pharmaceutical, automotive, oil, mining and construction industries, defense and security sectors.
One of the flagships in the product range is basalt fiber fabrics able to withstand high temperatures (up to 700 C). In 2015 basalt textiles from Olbo & Mehler was awarded Inova Textil in the category Fabrics.
In early 2016 the company products were presented at the specialized event Techtextil North America, and annual sales volume increased to 60 million euros. Since Europe had the greatest market share (70%), but textile consumption in the USA constituted only 15%, while European market growth prospects appeared weak, the management came to the decision to redress the imbalance and make efforts to develop the American market.
“The market without growth prospects but with such a concentration of sales can pose a threat,” – commented CEO of Olbo & Mehler Alberto Tavares.
The manufacturer plans to double market share in the North America in the next three years. The company intends to expand the use of technical textile in the automotive, construction industries and in the sectors where durability and fire resistance are required.