LUXEMBOURG/ZNOJMO, September 20, 2011 – PEGAS NONWOVENS (hereafter"PEGAS" or "Company") announces that it has successfully completednegotiations with a major customer relating to long-term deliveries ofnonwoven textiles from its planned production plant in Egypt. The agreedconditions will undergo the standard signing process and this administrativepart is expected to be finalised within the next two months.
At the beginning of June the Company announced its plan to build a new production plantin Egypt. The final confirmation of the execution of the investment was subject to theconclusion of an agreement with a major customer, who expressed interest in nonwoventextile deliveries to its Middle East production plants.
"The conclusion of this agreement with a major customer means that an importantcondition necessary for the final decision regarding the investment has been met.Securing sales for a major part of our production for several years ahead provides uswith a sufficient degree of certainty that the investment will be successful and motivateus in our intention to proceed with the planned 2nd Egyptian production line. We areintensively working on further project phases and we believe that we will bring to ourshareholders positive news about its further developments,“ said František Řezáč,member of the Board of Directors of PEGAS NONWOVENS SA and CEO of PEGASNONWOVENS s.r.o.
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