INDUSTRIAL materials manufacturer Fiberweb has appointed a new finance director following the disposal of its hygiene business.
Kate Miles, currently finance director of Fiberweb’s hygiene division, will be promoted to group FD, effective on the departure of incumbent chief financial officer Daniel Abrams in March.
The change was announced as Fiberweb confirmed it had completed the sale of its hygiene business, which makes material for nappies, to Petropar for £179m. The deal wiped out Fiberweb’s debt and created a smaller and more focused company.
Miles joined Fiberweb in September 2006 as group financial controller and was promoted to her current position in October 2010.
Malcolm Coster, chairman of Fiberweb said, the company “will start 2012 as a fundamentally transformed business, with a new focus, a strong balance sheet and strong potential for further operational improvement and strategic development.”
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