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Sinterama & Miroglio agree for polyester yarns alliance

06
Mar '12
Miroglio Group announces a deal with Sinterama. Sinterama, with a turnover of 130 million euros, a global presence and, this year together with Indorama (Thailand) acquired Trevira of Germany – is a leading company in Europe. The Continuous Yarn division of Miroglio Group, with a turnover of 30 million euros is focussed on specialised yarns for the garment sector.

The result of this strategic alliance is both manufacturing and commercially based. From the manufacturing perspective, the alliance provides for Miroglio Group reinforcement and optimisation of the production sites of Saluzzo (Italy) and Nova Zagora (Bulgaria) together with Sinterama's facilities in Italy, UK, Turkey, Brazil and China. Commercially, the particular experience of Miroglio Group's Continuous Yarn division will add to the joint resources of both Groups as they form one new Business Unit which will focus on apparel yarns, a market which requires specialisation and innovation.

To complement this alliance, Miroglio Group will become a shareholder in Sinterama Group with a view to ensuring the value of common interests and synergies. The aim of the two Groups will be to support the Italian apparel fabric manufacturers who are already known for their ability to meet the challenges of global expansion.

“This alliance represents an important opportunity for Miroglio Group to consolidate its polyester yarn activity'” declared Giuseppe Miroglio, CEO of Miroglio Group – based on a collaboration with Sinterama – a leading player in our sector – together with the value of our specific know-how that Miroglio has developed in the apparel yarn sector.”

“This is a further step in the rationalisation and reinforcing of European polyester production – the two Groups will represent around 20% of the market” – confirms Paolo Piana, President of Sinterama – with the strong conviction of creating a centre of excellence for apparel yarns, which will have a large production capacity, together with creativity and innovation and production assets of a large Group which is linked to Trevira and Indorama as well as a global footprint in virtually every fabric manufacturing region.”

With a consolidated turnover of 997.1 million euros in 2010 and with 12,000 employees, Miroglio Group, founded in 1947, is an international company, leader in the textiles-apparel industry with activities in Italy and Worldwide with 58 companies in 36 countries and a further 2,100 retail stores.

For ladies fashion garments, Miroglio Group designs, manufactures and distributes 11 branded collections including Motivi, Elena Mirò and Caractère. In the fabric sector, with 5 production sites, Miroglio Group develops and manufactures sophisticated products for three principal markets: fabric, yarns, transfer printing and technical film. The core business of the fabric division is in printing, an activity in which the Group is European leader.

Sinterama is the European leader in coloured polyester yarns for the automotive, furnishing, apparel and technical applications. Sinterama has 6 production sites in 5 countries: in addition to Italy and UK in Europe, there are sites in Turkey, Brasil and China. The Group has 650 employees, a sales volume of 30,000 tons of yarn per year with an annual turnover of 130 million euros.

Miroglio Group


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