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Indorama Ventures acquires fibre manufacturer Trevira
09
May '17
Indorama Ventures Public Company Limited (IVL) has announced that through its indirect subsidiary Indorama Netherlands BV, it has signed a definitive share purchase agreement with Sinterama S.p.A. its joint venture partner to acquire its 25 per cent stake in Trevira Holdings GmbH in Germany. With this acquisition, IVL will hold 100 per cent of Trevira.

IVL had acquired 75 per cent of Trevira in July 2011. The 100 per cent ownership will provide incremental synergies within the IVL Group's high value added portfolio.

The value of the acquisition, calculated in accordance with the regulations of the Capital Market Supervisory Board and the Stock Exchange of Thailand, as prescribed by the regulations of the Stock Exchange of Thailand is less than 15 per cent and the total size of transactions in the past 6 months is also less than 15 per cent.

"Trevira with its renowned brand is an integral part within our specialty portfolio strategy. We see further growth potential especially in the hygiene and automotive segments, as well as in the high-end home textiles business," said Uday Gill, CEO of IVL's fibres business.

"For Trevira and its customers and suppliers, this consolidation reflects Indorama Ventures' commitment to investing in the company and ensuring a continued strong and reliable partnership. IVL has supported us from the very beginning in all our activities and has integrated us in its global network. We cooperate in joint projects and benefit significantly from the synergies within the IVL group. We would like to thank the Sinterama team for their ongoing support in ensuring a seamless transition," said Klaus Holz, CEO, Trevira.

Trevira GmbH is an innovative European manufacturer of high-value branded fibres and filament yarns for technical applications and hygiene products as well as for home textiles, automotive interiors and functional apparel. In 2016, sales of the company amounted to around €230 million. (KD)

Fibre2Fashion News Desk – India


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