IVL acquires majority stake in PHP Fibres

03 Feb '14

2 min read

Indorama Ventures Public (IVL) signed the sale and purchase agreement with the intention to acquire the shares of PHP Fibers GmbH, Germany, and all subsidiaries controlled by PHP. IVL will hold 80% of PHP and the remaining 20% will be held by Toyobo, a leading Japanese manufacturer of high-function products for the automotive and other industries.

Indorama Ventures Public Company Limited (IVL), listed in Thailand, is a global leader in the Polyester value chain with a strong global network and manufacturing across Asia, Africa, Europe and North America. IVL has approximately 9,000 employees worldwide and it achieved last twelve months consolidated revenue ending Q3 2013 of $7.3 billion USD (= 5.4 billion EUR).

Toyobo will participate as a minority partner in this deal and is especially interested in forming an even stronger partnership between PHP fibers and Toyobo in the area of yarn and fabrics for airbag applications. Together PHP fibers and Toyobo will become the biggest integrated airbag yarn and fabric producer with operations in Europe, US, Japan, Thailand and China.

The integration within the Indorama Group will create enormous strategic and operational opportunities for PHP Fibers. It will enable PHP Fibers to accelerate its global growth strategy as a leading supplier of high-tenacity Polyamide- and Polyester filament yarns in its existing strong growing markets especially for airbags, tires and industrial fabrics.

PHP Fibres

More Textiles News - Germany...