Indorama Ventures Public Company Limited has signed a definitive share purchase agreement to acquire German company Trevira GmbH through a joint venture with Italy's Sinterama S.p.A. Indorama Ventures will become the majority partner while Sinterama will take a strong management role in the new joint venture company.
Trevira is the market leader in Europe in high value applications of polyester, especially in automotive and home textiles and as such is a widely known and well- recognized brand amongst both 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 long period of time will be complementary to Indorama Ventures. The synergy will provide comprehensive and innovative solutions for apparel and industrial applications of polyester to customers worldwide.
The acquisition comprises two manufacturing sites in Germany, at Bobingen, Bavaria, and Guben, Brandenburg with a total capacity of 120,000 tonnes per annum and a plant in Zielona Góra, Poland that will process the fibres and filaments manufactured in Germany.
Mr. Aloke Lohia, Group CEO of Indorama Ventures said, "This acquisition will allow us to acquire one of Europe's best known Polyester specialty fibres and yarns brands, further diversifying our product offering to our customers. Trevira has a research and development laboratory that develops polymers and fibres and already has many patents to its name. This will make a good fit for our business as we will be able to develop new value-added products to meet customers' needs in the future.
"We have joined with a strong global partner in Sinterama, which has many years of experience in specialty polyester products that will help us to expand further globally and attract new customers. We look forward to a long and successful partnership with Sinterama," Lohia added.
Trevira GmbH was founded in 1956 as the fiber business of Hoechst, one of Germany's foremost chemical companies and became an important European manufacturer of high quality branded polyester fibres and filament yarns for the home textiles, apparel and automotive industries, the hygiene sector and technical applications.
Headquartered in Biella, Italy, Sinterama is a leading European manufacturer of dyed polyester yarns for the automotive, home textile, apparel and technical products industries. It has operations in Italy, the UK, Turkey, Brazil and China.
Indorama Ventures Public Company Limited, listed in Thailand is the world's leading producer in the polyester value chain with a strong global network and manufacturing across Asia, Europe and North America.
Indorama has signed a definitive share purchase agreement to acquire Trevira