Home / Knowledge / News / Textiles / Indorama Ventures acquires fibres business in Brazil

Indorama Ventures acquires fibres business in Brazil

02
Nov '18
Indorama Ventures acquires fibres business in Brazil
Indorama Ventures Public Company Limited (IVL), through its indirect subsidiary Indorama Ventures Brazil Participações SA (IVBRZ), has signed a definitive agreement with M&G Fibras Holding SA, M&G Fibras Participações Ltda, and M&G Fibras e Resinas Ltda to acquire a 100 per cent stake in M&G Fibras Brasil Ltda located in Cabo de Santo Agostinho, Brazil.

The site produces polyester staple fibre, with an annual capacity of 75,000 tonnes and will be in close proximity to IVL’s PET plant in Brazil.

“This acquisition will provide an opportunity to IVL to establish its global footprint in the fibres business in South America’s largest economy, Brazil and participate not only in the large domestic market but also enjoy strategic and logistic advantages from established free trade agreements with other Latin American countries,” IVL said on its investor relations website.

The demand in Brazil is expected to grow in response to a recent recovery in consumption, IVL said.

The transaction is expected to be completed within Q4/2018, subject to regulatory approvals. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 14th Jun 2021

Huge scope to strengthen textile value chain in West Africa: report

With only 2 per cent of the raw cotton grown in West Africa processed ...

Pic: Shutterstock

Textiles | On 14th Jun 2021

Prime Content| US textile & apparel exports up 13.09% in Jan-April 2021

The exports of textile and apparel from United States increased by...

Pic: Shutterstock

Apparel/Garments | On 14th Jun 2021

Prime Content| Vietnam’s apparel exports expected to rise in 2021: TexPro

Apparel exports of Vietnam are expected to increase from $14.96...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Textile Industry, Head honchos

Textile Industry
Head honchos

Opportunity now to reimagine processes & systems in a digital environment

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Noemi Sanchez,

Noemi Sanchez

Established since 1846, Evlox is a specialised denim manufacturer with its ...

Amanda Cioletti,

Amanda Cioletti

The entertainment/character segment lead as the largest sector for the...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

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

Leave your Comments


June 2021

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


Advanced Search