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

The Spanish company Nueva Expresion Textil (Nextil) has divested the production facilities of its subsidiary Elastic Fabrics of America Inc, located in North Carolina, United States, as reported to the National Securities Market Commission (CNMV).

The transaction is expected to generate approximately €3.2 million in pre-tax capital gains, effectively reducing its financial debt by €4.5 million immediately.

Following an agreement with the buyer, Nextil will continue its operations in these facilities until March of this year, subsequently beginning its productive activities in Guatemala.

Nextil clarified that this divestment represents the culmination of its strategic objective of consolidating all its textile industrial activities in Guatemala, where the company has invested more than 12 million euros.

In this Central American country, Nextil has specific industrial facilities equipped with the latest generation machinery. This infrastructure allows for faster, more efficient and profitable development of its industrial operations.