september 06 19
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Moretextile sells Tearfil to Maria de Belém Machado

The MoreTextile Group, a leader in the home textile sector in Europe, sold its spinning business Tearfil to Maria de Belém Machado (SMBM shareholder), a decision that is in line with the company’s sole focus on producing terrycloth and bedding.

Tearfil produces and sales textile yarns since its founding, in 1973, and has about 300 customers, 200 employees, and advanced technical skills and know-how, generating a turnover of 12 million euros (12% of which is exported).

Led by Artur Soutinho (in the photo), the MoreTextile group – whose main shareholder is ECS Capital and resulted from the merge between JMA Felpos, António Almeida & Filhos and Coelima – had many interested in acquiring this non core business.

The entrepreneur Maria de Belem Machado owns the company SMBM, headquartered in Guimarães, which started its activity in 2001, produces open-end, single, twisted, raw or mixed yarns, and owns the Fifitex brand.

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