Thrace Nonwovens and Geosynthetics Single Person S.A., a wholly owned subsidiary of Thrace Plastics, has agreed to acquire 100% of the share capital and voting rights of Plydex S.r.l. The definitive and binding agreement was signed on 27 October 2026 for the company, which is based in Dueville, in the province of Vicenza, Italy.
The acquired company has been active in the Italian technical textiles market for more than 20 years. Its business focuses on trading geosynthetic products for infrastructure and engineering projects, as well as geotechnical and environmental applications.
The company's portfolio includes woven and non-woven geotextiles, geogrids, drainage geocomposites, EPDM membranes and erosion-control materials. The acquisition forms part of the Group's strategy to strengthen its presence in the technical textiles sector.
The move strengthens the Group's international commercial footprint by expanding its presence in the Italian market. It also creates prospects for further sales growth and for promoting its full product range by leveraging commercial and operational synergies.
The total consideration for the transaction was €2.35 million, financed through external borrowing. In the financial year ended 31 December 2025, Plydex recorded revenue of €5.9 million, EBITDA of €0.5 million and net profit of €0.3 million.
The transaction marks another step in implementing the Group's strategy of targeted growth in the technical textiles sector and expanding its international commercial presence.