Nextil sells production facilities of its subsidiary Elastic Fabrics of America Inc in North Carolina

The Spanish company, Nueva Expresión Textil (Nextil), has divested the production facilities of its subsidiary, Elastic Fabrics of America Inc, situated in North Carolina, United States, as reported to the Comisión Nacional del Mercado de Valores (CNMV).

The transaction is expected to generate approximately 3.2 million euros in capital gains before taxes, effectively reducing its financial debt by 4.5 million euros immediately.

Following an agreement with the buyer, Nextil will continue its operations in these facilities until March this year, commencing its production activities in Guatemala thereafter.

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Nextil clarified that this divestment marks the culmination of its strategic goal to consolidate all of its textile industrial activities in Guatemala, where the company has invested over 12 million euros.

In this Central American country, Nextil has specific industrial facilities equipped with state-of-the-art machinery. This infrastructure allows for quicker, more efficient, and cost-effective development of its industrial operations.