MOSCOW (MRC) -- Indorama Ventures Public Company Limited (IVL), a global chemical producer, has successfully completed the acquisition of Sinterama S.p.A, a leading manufacturer of polyester automotive interiors and high performance coloured yarns manufacturer, the company announced.
This acquisition elevates IVL’s capacity to deliver comprehensive and innovative solutions in highly specialised applications including coloured polyester yarns for the automotive, furnishing, apparel and technical applications.
The combination of IVL's existing manufacturing capabilities and supply chain with Sinterama's industry-leading portfolio gives IVL added momentum to serve the increasing demand for automotive and home applications.Sinterama has approximately 890 employees working at five production sites in four countries in Italy, Brazil, China and Bulgaria, which is a new market for IVL.
Sinterama holds leading positions in highly specialised applications in Europe, with an excellent reputation and proven technology. Its expertise and network of strategically located facilities will be integrated into IVL’s existing specialities business, thereby creating the industry partner of choice for high-value polyester yarns.
As MRC wrote before, in June 2018, Indorama Ventures Public Company Limited (IVL), a global chemical producer, entered into a joint venture agreement with Dhunseri Petrochem Ltd. (Dhunseri) to acquire its Egyptian Indian Polyester Company S.A.E. (EIPET) PET facility located in Ain Sokhna free trade zone, North West of the Gulf of Suez in Egypt. This plant has a manufacturing capacity of 540,000 tonnes per annum.
As per MRC's DataScope, imports of injection moulding PET chips in Russia increased by 14% in the first ten months of the year compared with the same period a year ago and reached 106,000 tonnes. The same indicator in January-October 2019 amounted to 92,700 tonnes. The share of bottle grade PET imports from China amounted to 90% compared to 86% for the same period last year.
Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB), is one of the world’s leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia, Europe and Americas. The company’s portfolio comprises Integrated PET, Olefins, Fibers, Packaging and Specialty Chemicals. Indorama Ventures products serve major FMCG and Automotive sectors, i.e. Beverages, Hygiene, Personal Care, Tire and Safety segments. Indorama Ventures has approx. 20,000 employees worldwide and consolidated revenue of USD 10.7 billion in 2018.
MRC