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IVL completes acquisition of wool yarns business in Europe
27 Nov '18
1 min read
Courtesy: Indorama Ventures
Indorama Ventures Public Company Limited (IVL) has completed the acquisition of Schoeller Group in Europe on November 23, 2018, IVL said through the Stock Exchange of Thailand. Schoeller Group is a leading European producer of pure wool and wool blend worsted yarn, having one dyeing facility in Austria and one spinning facility in the Czech Republic.
Schoeller Group has operating plants in Austria, Czech Republic and Germany.
This acquisition will further enhance the HVA portfolio of IVL. The value of the acquisition is less than 15 per cent and the total size of all transactions in the past 6 months also does not exceed the 15 per cent threshold limits as prescribed in the regulations. (RR)
Fibre2Fashion News Desk – India
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