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Indorama acquires mono & bi-component fibers firm
06
Jan '12
Indorama Ventures Public Company Limited at the Board of Directors' Meeting held on January 4, 2012, approved to acquire 100% of FiberVisions Holdings LLC, a global manufacturer of specialty mono and bi-component fibers based in Duluth, Georgia, USA.

FiberVisions has a total global capacity of 221,000 tons per annum of specialties, with 117,000 tons per annum capacity in the United States of America, 90,000 tons per annum capacity in Europe and 14,000 tons per annum capacity in China.

FiberVisions Holdings, LLC and its subsidiaries are the global market leader in high value applications of fibers. The products are used in non-woven industries and used for various applications in hygiene, wipes, construction, automotive and textile sectors. These companies have several valuable patents and technologies together with a strong R&D setup with substantial accumulated research knowledge.

The acquisition of FiberVisions will significantly enhance IVL's position in the World's most specialized fibers business for hygiene products and complements IVL's strength as the World's largest polyester producer with FiberVisions' as the largest producer of polypropylene fiber, who together will better cover customer needs in all parts of the World.

A new, indirect subsidiary, Indorama Ventures Performance Fibers Holdings USA LLC, has been formed in the USA in order to acquire the business. The closing of the transaction will take place on January 6, 2012.

Indorama Ventures Public Company Limited

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