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Advansa signs deal with Sverige Netherlands

13
Feb '20
Pic: Advansa
Pic: Advansa
Advansa, a European polyester fibre producer based in Germany, has entered into a deal with Sverige Netherlands about take-over of all the assets of Advansa as well as the other relevant companies of the Advansa Group (Advansa Marketing, Advansa IT Service, Advansa Logistik und Dienstleistungsgesellschaft mbH, Advansa and Bergers Technik und Maschinenbau).

Sverige Netherlands is an investment holding company which is affiliated with the major shareholders of PT Asia Pacific Fibres Tbk (APF), a leading integrated global polyester player. APF, headquartered in Indonesia, manufactures and markets polyester chips, staple fibres, filament yarns and fleece fabrics along with captive PTA (purified terephthalic acid).

Sverige expects that its investment in Advansa will lead to close cooperation between Advansa and APF, resulting in a larger polyester group with global reach, having plants in both Europe and Asia and with the possibility to offer a wider portfolio of products to customers.

All the Advansa technology and trademarks will remain with the group, including the rights to former DuPont polyester technology and brands in Greater Europe.

Approximately 165 Advansa employees will continue with the Advansa Group, along with all relevant intellectual property, equipment, technology and brands.

Vasudevan Ravi Shankar, president of APF commented: “This strategic investment by Sverige represents a significant step forward in their strategic vision to move towards product and market diversification at APF with a wide portfolio of specialty and value-added products and positioning both companies as leaders in the markets we serve."

Peter Merkle, CEO Staple/Polymers from APF added: " Advansa is a good fit with APF, this cooperation enables manufacture and supply to the fibrefill and paper industries; the two largest markets of Advansa, and we are excited by the potential for APF together with Advansa to grow our market share through product synergies and technology."

Dr. Heinz Meierkord, who continues as CEO of Advansa added: “The sale to Sverige Netherlands enables the future of polyester manufacturing at our plant in Hamm, Germany and provides opportunities for further investment and growth to serve our customers globally. I am confident that this will be in the best interests of employees and customers alike. Customer supply and marketing and sales activities will continue as usual under new ownership via Advansa Marketing while trademark licenses to customers via Advansa remain valid as before."

Prior to 2000 the Advansa polyester business in Europe was part of DuPont and subsequently a joint venture of DuPont and Sabanci Holding until 2005. Between 2005 and 2011, the business was part of Sabanci Holding (Turkey) and subsequently sold to a management and investor group in an MBO in 2011.

APF, founded in Indonesia and formerly known as Polysindo prior to its acquisition by the current shareholders, is a long-term player in the polyester, polymer and fibre industry. APF’s major shareholders are two globally active investment funds.

Fibre2Fashion News Desk (SV)


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