TFL in good shape
7 February 2012Leather chemical makers TFL, have successfully closed the business year 2011. Last years sales exceeded budget and the company’s envisaged goals were attained, despite negative factors due to rising raw materials prices and exchange rate fluctuations depressing margins.
TFL are currently seeking new investors and have received interest from several parties. It is the intention of the company to be sold as a whole and a break-up of the company is not being considered, Leather International has been informed. This is contrary to other media sources, which were circulating in early February. TFL’s private equity owner, Odewald & Cie have hired adviser, Leonardo & Co to oversee the sale of the company. An initial deadline has been set for bids for TFL, which employs over 1000 people worldwide.
TFL continue to offer products and services to customers and continue to be the focus of strong demand. In particular, TFL state that their systems for optimising the chemicals essential for leather production make them an ideal partner for the tanning industry at a time of steadily rising raw materials costs.
The company have a solid cash flow management coupled with the support of their stakeholders, who provide adequate liquid funds, TFL state that they are well prepared to face the years ahead.
