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Web Exclusive | August 2017

Indorama Ventures to acquire Durafibre

Indorama Ventures Public Company Limited (IVL), a leading chemical producer, has entered into an agreement to acquire Durafibre Technologies México Operations, S. A. DE C. V. (DFT), a leading Mexican producer of durable technical textiles for industrial, tire reinforcement, and speciailty applications.

DFT’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 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 transaction is expected to be completed in the third quarter of 2017. Concurrently with this planned acquisition in Mexico, IVL has agreed to also acquire Durafibre Longlaville, France, having a capacity of 35,000 tonnes/annum.

“The acquisition of Durafibre is strongly aligned with our strategy of pursuing accretive growth opportunities in the high value-added automotive segment. Durafibre’s portfolio is a complementary fit with our current HVA tire cord fabric products in Europe and a strong fit with our existing PET site in Mexico. Durafibre is a strong brand with recognized products with deep insights into the market combined with IVL’s global scale will enable us to better meet customers’ evolving needs,” said Aloke Lohia, Group CEO of Indorama Ventures.

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Sodalamuthu and Co. Pvt Ltd      Kirloskar Brothers Ltd      Konica Electronics Enterprise      Kusters Calico Machinery Pvt Ltd      Labelmach      Lakshmi Card Clothing Mfg Co. Pvt Ltd      Lakshmi Machine works Ltd      Loepfe Brothers Ltd (Masterline)      Luwa India Pvt Ltd      MAG Solvics Pvt Ltd      Marvel Gloves Industries      Mayer & Cie. GmbH & Co. KG      Mayur Reeds And Healds Pvt Ltd      MESDAN India Pvt Ltd      Mohler Machine Works Pvt Ltd      Nestling Technologies      Peass Industrial Engineers Pvt Ltd      Perfect Equipment Pvt.Ltd      Picanol N V      Prashant West Point Machinery Pvt. Ltd      Precision Rubber Industries Pvt Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Rieter India Pvt Ltd (Novibra)      Rieter India Pvt Ltd (Suessen)      Rieter India Pvt. Ltd      Rieter India Pvt. Ltd      Sabar Machine Tools Mfg. Co.      Savio India Ltd      Savio Texcone (P) Ltd      Schoch Reeds India      Shakti Textile      Sheeba Engineering Co      Skaat Machine Works India Pvt Ltd      Sopromatex (UCMTF)      SRE Corporation      Sri Lakshmi Fire Controls      Stovec Industries Ltd      Sudarshan Gears      Sunrise Industries      Swissmem      Texcoms Textile Solution (E-Products INC)      Texfab Engineers (India) Pvt Ltd      Thies GmbH and Co.      Thymas Electronics Pvt Ltd      Truetzschler India Pvt Ltd      Umargaon Textile Machinery Pvt Ltd      Unitop Aquacare      Vetal Hitech Machines Pvt. Ltd      Voltas Ltd      Weavetech Engineering Pvt Ltd      Yale Synthlube Industries