Indorama Acquires PHP Fibers
Indorama Ventures Public Co. Ltd. (IVL), a global producer of polyester precursors, fiber, yarn and components, has agreed to acquire 80 percent of Germany-based PHP Fibers GmbH, Trevira GmbH, a global producer of polyamide 6,6 yarn for applications including airbags and tires, and of polyester industrial yarn. Japan-based Toyobo Co. Ltd. (global manufacturer of high-performance automotive and other industrial products) will own the remaining 20 percent of PHP.
“We believe that the strategic combination of Indorama Ventures’ Fiber business and PHP in Europe, North America and Asia will provide extensive synergies,” said Aloke Lohia, group CEO, IVL. “We are also very proud to partner with Toyobo, an eminent Japanese business leader, in this global venture.” The acquisition is expected to strengthen IVL’s ability to speed up the growth of its high-value-added business.
Through its minority ownership of PHP, Toyobo aims to enhance the two companies’ position as an integrated manufacturer of yarn and fabrics for airbag applications.
About Trevira GmbH
Trevira GmbH Germany was acquired under a joint venture with Sinterama, an Italian company with experience in specialist fibers and a global footprint. IVL holds 75% of the shareholding in Trevira. The company was originally the fiber business of Hoechst, one of Germany’s foremost chemical companies and became an important European manufacturer of high quality branded polyester fibers and filament yarns for the home textiles, apparel and automotive industries, the hygiene sector and technical applications. Its head office is in Bobingen near Augsburg. The company is the only European producer offering both staple fibers and filament yarns and is the only fully integrated polyester fiber company in Europe. It has a total capacity of 120,000 tonnes per annum.
Following a statement by Trevira in November 2011 of its plans to centralize filament yarn spinning in Guben, it decided that by the end of 2012 spinning capacity based at its Polish plant in Zielona Gora would to be moved to its Guben plant, together with the filament capacity in Bobingen (Bavaria).
The concentration of all units of filament yarn production in Guben means the company will be operating only the one production site for each of its two product lines – filaments and fibers. The aim is to make the production structure slimmer and more efficient.
Trevira can provide services throughout the entire textile value chain, which offers significant added value for its customers. Trevira is internationally certified with ISO 9001 and ISO 14001.
Source : Indoramaventures.