Performance Fibers sets up European HQ in Luxembourg

Bascharage, Luxembourg - Performance Fibers, the maker of polyester tyre cord, will establish a new European shared-services centre and executive management headquarters in Luxembourg.

Initially, about 30 employees will be based at the new offices, located in the former administrative building of TDK Recording Media in Bascharage. These people will be relocated by the end of July, with more relocating in future. The company said it will also hire new employees at the site, "with the potential to expand at the location according to the company's consistent and aggressive growth goals."

Eventually, the centralised location will bring together employees from Performance Fibers' operations in France and Germany involved in executive leadership, customer service, human resources, accounting, finance, purchasing, technology, sales and marketing, and other administrative functions.

Performance Fibers, an affiliate of Sun Capital Partners, Inc., has manufacturing operations in Longlaville, France; Bad Hersfeld, Bobingen and Guben, Germany; as well as in North America and Asia. It operates the polyester fibres business previously owned by Allied Signal and then Honeywell