Indorama Ventures Public Company Limited acquires 75% stake in Trevira GmbH based in Germany & Poland

Indorama Ventures Public Company Limited is to acquire 75% stake of the Polyester Staple Fiber, Specialty Filament business of Trevira GmbH. Trevira GmbH runs operations in Germany and Poland. The remaining 25% stake will be held by Sinterama S.p.A., Italy, the Joint Venture Partner. The acquisition of the 100% shares in Trevira GmbH will be done through a new Joint Venture Company, Indorama said in a press release.

As such, Indorama Ventures and the JV Partner signed a definitive Share Purchase Agreement on 4 February 2011 with the seller. The formation of the new JV Company and the transaction are expected to be completed by Q2, 2011, stated the release.

The Italian JV Partner, Sinterama S.p.A. is a privately held holding company. The firm belongs to a group which is among the world leaders in the Polyester Specialties Filament business. Headquartered in Biella, Northern Italy, Sinterama has a global presence and operates through 6 manufacturing plants worldwide, located in Italy, UK, Brazil, Turkey and China.

Trevira GmbH is a fully integrated Polyester Fiber Company in Europe with a capacity of 120,000 tons per annum of Staple Fiber and Filament Yarn. It has manufacturing plants in Germany and Poland. Trevira GmbH is the market leader in Europe in high value applications of polyester, especially in automotive and home textiles.

Trevira is a widely known and well-recognized brand both amongst customers and producers of synthetic fabrics. The company has several valuable patents and technologies together with a strong R&D setup with substantial accumulated research knowledge.

Trevira's knowledge base developed over a period of time will be complementary to Indorama. The synergy will provide comprehensive and innovative solutions for apparel and industrial applications of polyester to customers worldwide.

The investment is in line with the planned growth within the Polyester Value Chain. It will open up the market for Specialty Polyesters globally and give the firm access to renowned brands and technology and establish its footprint in the specialty segment, stated the release.

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