INDORAMA VENTURES ACQUIRES DURAFIBER TECHNOLOGIES

Time: Aug 18th 2017   Copy editor: Tyrefull

Global chemical producer Indorama Ventures Public Company Limited (IVL) has acquired DuraFiber Technology’s México Operations.  DuraFiber is a leading Mexican producer of durable technical textiles for industrial, tyre reinforcement, and specialty applications globally.  The transaction is expected to be completed in the third quarter of 2017, subject to the usual regulatory approvals. IVL will also acquire DuraFiber Longlaville, France having a capacity of 35,000 tonnes/annum.

DuraFiber’s Queretaro plant in Mexico (co-sited with IVL Mexico) has a capacity to produce a total of 37,500 tonnes/ annum of PET High Modulus Low Shrinkage (PET HMLS), PET Heavy Denier Industrial (PET HDI) and Nylon 6 fully-integrated into tire cord fabrics and industrial textiles.

Its products are used in a wide range of applications including reinforcement for conveyor belts, hoses, single-ply roofing, tents, automotive airbags, seat belts, safety harnesses and ropes.

“The acquisition of DuraFiber is strongly aligned with our strategy of pursuing accretive growth opportunities in the high value-added automotive (HVA) segment. The automotive segment is a key growth driver in IVL’s HVA portfolio that will bring exciting developments to the Company. It is now accounting for 50 per cent of IVL’s core EBITDA. DuraFiber’s portfolio is a complementary fit with our current HVA tyre cord fabric products in Europe and a strong fit with our existing PET site in Mexico,” said Aloke Lohia, Group CEO, Indorama Ventures.

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