KuibyshevAzot, one of the leading companies of the Russian chemical industry, is planning to acquire STFG Filamnete, German producer of textile polyamide threads.
The deal is estimated to cost around €12-17 million and will be used by the Russian company as a platform to expand in the EU textile polyamide threads market.
The current annual polyamide thread production capacity of the German company is nearly 4,000 tons and KuibyshevAzot is considering increasing its capacity post-acquisition, in view of the steady 10-15 percent per annum increase in EU demand for polyamide threads.
KuibyshevAzot is also planning to begin supplying of caprolactam, used in the production of polyamide threads, to Germany.
Fibre2fashion News Desk - India
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