IVL to acquire Glanzstoff
We are pleased to share that Indorama Ventures today announced that it has signed a definitive agreement to acquire Glanzstoff, which comprises four manufacturing sites in China, Czech Republic, Italy and Luxembourg. The transaction is expected to close over the next few months.
As you may know Glanzstoff is a leading European supplier of tire cord fabrics and single-end cords. With its integrated Rayon spinning technology it will extend IVL’s portfolio for tire yarns and fabrics.
IVL commenced its foray into the high growth tire cord business following its acquisition of PHP Fibers in 2014 and thereafter, adding to its portfolio Performance Fibers in 2015. Performance Fibers have announced a sizeable expansion of its tire-cord manufacturing line in Kaiping, China in January of 2017. The acquisition of Glanzstoff is a step to further help strengthening the company’s position in this segment. This demonstrates our commitment to the tire industry and through expanding our global manufacturing footprint with local presence and enriching our technology platform to become the most competitive solution provider with vertical integration in Polyester, Nylon 66 and Rayon applications.
See the publication here.
For more information, please contact your direct representative at Glanzstoff or leave your message at www.glanzstoff.com/en/corporate/contact-us .