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Indorama Ventures completes acquisition of PF Asia
06 Apr '15
1 min read
Indorama Ventures has completed acquisition of 100 per cent stake in Performance Fibers Asia (PF Asia), the company said in a filing to the Stock Exchange of Thailand.
With reference to the disclosure made by Indorama Ventures (IVL) on 8 December 2014, regarding the acquisition of 100 per cent stake in PF Asia, the premium polyester tire cord fabric producer in Asia, IVL said it has completed all the closing formalities and has taken charge of the plants in China effective 1 April, 2015.
PF Asia comprises six companies, namely Performance Fibers Holdings Finance, Inc. (US), Performance Fibers Asia Holdings, LLC (US), Performance Fibers Asia, LLC (US), Performance Fibers (Hong Kong) Limited (Hong Kong), Performance Fibers (Kaiping) Company Limited (China) and Performance Fibers (Kaiping) No.2 Company Limited (China). The last two companies represent manufacturing units.
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