Thailand-based chemicals, fibres and woollen yarn conglomerate Indorama Ventures Group Ltd (IVL) has taken complete control of German polyester staple fibre and filament yarn maker Trevira after purchasing the remaining 25% shareholding.
The acquisition was made from Indorama's earlier joint venture partner, Sinterama S.p.A, its previous joint venture partner. Indorama had bought the majority stake in July 2011.
"Trevira, with its renowned brand, is an integral part within our speciality portfolio strategy. We see further growth potential especially in the hygiene and automotive segments, as well as in the high-end home textiles business," IVL’s Fibres Business CEO Uday Gill said.
Trevira CEO Klaus Holz said that the takeover of the remaining Sinterama stake is the last step which is part of a long-term commitment by Indorama.
"For Trevira and its customers and suppliers, this consolidation reflects Indorama Ventures' commitment to investing in the company to ensure a continued strong and reliable partnership," he said.
Trevira GmbH is an innovative European manufacturer of high-value branded fibres and filament yarns for technical applications and hygiene products as well as for home textiles, automotive interiors and functional apparel.
Two of its production sites as well as a marketing and sales office with a total of approximately 1,100 employees are located in Germany. These are supported by an international marketing and sales organisation.
In 2016, sales amounted to around 230 million Euros. The head office of the company is located in Bobingen near Augsburg in Germany.