Takween Advanced Industries' Board OKs Acquisition of Remaining Stake in Advanced Fabrics Factory

08:36 AM EST, 12/17/2025 (MT Newswires) -- The board of Takween Advanced Industries (SASE:1201) approved the signing of a memorandum of understanding to acquire the remaining 70% stake it does not own in Advanced Fabrics Factory Co. from its Chinese partner Jofo Nonwovens. The MoU will be valid for 60 days and represents a preliminary step toward meeting the required regulatory requirements and signing a final agreement, according to a Wednesday release. The plastic packaging and non-woven fabric company currently owns 30% of Advanced Fabrics Factory.