Velcro Companies to Acquire Belgium-Based Specialty Weaving Manufacturers Alfatex and Gevaert

Velcro Companies, a global leader in fastening solutions, today announced that it has acquired Alfatex, a leading manufacturer of hook and loop fasteners in the medical, automotive and industrial sectors, and Gevaert, which manufactures elastic and rigid webbings for the apparel industry. The move will expand Velcro Companies presence in Europe, broaden its product portfolio and open the way for investment in research and development to speed the pace of product innovations.