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Takween moves to full ownership of SAAF nonwovens JV

By Haydn Davis
5 May 2026

Saudi packaging and nonwovens producer Takween Advanced Industries has agreed to acquire JOFO Nonwovens’ 70% stake in spunmelt specialist SAAF, consolidating control of the Saudi-based operation

Takween will assume all current and future obligations of SAAF

RIYADH - Takween Advanced Industries has signed a share purchase agreement to acquire its Chinese partner JOFO Nonwovens’ entire 70% stake in Advanced Fabrics Factory Co. (SAAF), moving from minority shareholder to sole owner of the nonwovens producer.

The transaction, announced on 30 April 2026, will give the Saudi-listed group 100% control of SAAF’s share capital, subject to regulatory approvals.

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