Home / Knowledge / News / Textiles / Indorama Ventures acquires PET producer SASA in Turkey
Indorama Ventures acquires PET producer SASA in Turkey
10
Apr '14
Indorama Ventures Public Company Limited (IVL) has announced the acquisition of 51% of leading Polyester and PET producer SASA Polyester Sanayi A.S (SASA) in Turkey through its wholly-owned subsidiary Indorama Netherlands B.V. (IBV) from Haci Ömer Sabanci Holding A.S. (Sabanci Holding). 
 
SASA is a publicly listed company on the Borsa Istanbul and IBV will be conducting a mandatory tender offer for the remaining 49% of SASA’s share at Borsa Istanbul as per requirements of Turkish Capital Markets Legislation.
 
SASA incorporates integrated feedstock and polymer facilities producing DMT, staple fibers, filament yarns, PET, PBT polymers and specialty chemicals with a total plant capacity of 600,000 tons per annum. SASA supplies both Turkish and European markets with high quality, high value added products.
 
Mr. Aloke Lohia, Group CEO of Indorama Ventures Public Company Limited said, “SASA is an exciting addition to Indorama Ventures’ portfolio that allows us extended geographic expansion into a new and fast-expanding market and territory. 
 
The company is a well-known producer in the country and is an excellent first step into the Turkish market, allowing us to leverage its HVA production facilities to provide advantaged portfolio extensions for current and new customers. Turkey provides us the potential for expansion of domestic sales and opens up the opportunity to sell into the surrounding underserved region.”
 
“The acquisition is in line with our three dimensional strategic plan to expand broadly into fast-growing underserved markets, horizontally into high value add (HVA) products to offer a deeper portfolio of products to our customers and vertically integrating into our feedstock as SASA has onsite feedstock,” Lohia explained. 
 
“SASA has a rich heritage of technology and expertise which will be complementary to Indorama Ventures since SASA is now serving over 54 countries with 150 different types of products. Moreover, Turkey’s unique geographical position straddling Europe, North Africa, Central Asia and Middle East offers the potential for faster growth in both the domestic and export markets to neighboring countries and Europe. 
 
Turkey’s textile sector is an important area of the economy and continues to grow, being a noted exporter to the key European market. We foresee this asset being the jewel in the crown of our expansion into the Turkish market and will be a good fit for our other expansion plans in the region.”
 
About SASA
Established in 1966, SASA’s production facilities are located in the Adana region with excellent access to the country’s transportation infrastructure allowing thecompany to deliver to Europe, Middle East and North Africa. 
 

Indorama Ventures

Must ReadView All

Textiles | On 24th May 2017

Maharashtra state passes State GST bill

The Maharashtra Assembly has passed unanimously the State Goods and...

Apparel/Garments | On 24th May 2017

G-III Apparel enters into license agreement with PVH

G-III Apparel Group has entered into a multi-year license agreement...

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search