Indorama Ventures Public Company Limited (IVL), through its affiliate, Indorama Netherlands B.V., has completed the acquisition of 100 per cent of the corporate capital of Filatura Tollegno 1900 S.r.l., an Italian company located in Tollegno (Italy), active in the yarn dyeing business in Italy and the spinning and top dyeing operation in Poland, with a total combined production capacity of 3,500 tons per annum from Tollegno 1900 S.p.A.
This acquisition is a strategic fit for IVL’s unique integrated business platform and will make a significant contribution to the sustainable growth of the Wool business (Fibres segment). It will also strengthen IVL’s footprint of worsted yarns in Europe and help extend IVL’s wool products globally with trading subsidiaries in America and Asia, the company said in a press release.
In addition, it will add more sustainable products to IVL’s portfolio and provide synergies with IVL’s existing assets. With commitment to environmental sustainability, including a full traceability project of the fibres used for yarns and fabrics manufacturing, this transaction will also contribute to IVL’s sustainability efforts.
Indorama Ventures Public Company Limited (IVL), through its affiliate, Indorama Netherlands B.V., has completed the acquisition of 100 per cent of the corporate capital of Filatura Tollegno 1900 S.r.l., an Italian company located in Tollegno (Italy), active in the yarn dyeing business in Italy and the spinning and top dyeing operation in Poland.#
The total value of consideration for the transaction is approximately €39.5 million, provisional price subject to customary working capital and net debt adjustments as per the sale and purchase agreement. The financing of the transaction will be from the internal cash flow of the company.
Fibre2Fashion News Desk (RR)
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