January 6, 2012
FiberVisions Acquired by Indorama Ventures Public Company Limited
Indorama Ventures Public Company Limited (IVL) and FiberVisions Holdings LLC announced today that IVL has agreed to acquire 100% of FiberVisions.
Indorama Ventures PCL (www.indoramaventures.com) is a leading producer in the polyester value chain with manufacturing in Asia, Europe and North America, and sales throughout the world.
Mr. Aloke Lohia, Group CEO of IVL said, “The acquisition of FiberVisions significantly enhances Indorama Ventures’ position in the world’s most specialized fibers business for hygiene products and other growing fiber applications. As the largest producer of polypropylene fiber, FiberVisions complements our strength as the world’s largest polyester producer and together we will better cover customer needs in all parts of the world.”
Dr. Stephen Wood, CEO of FiberVisions noted “the combination of IVL and FiberVisions will give us an even stronger capability to develop fiber innovations to help our customers successfully meet the ever changing and increasing market demands.” Dr. Wood also noted that customers and suppliers should not see any changes in their day-to-day interactions with FiberVisions and customer and supplier contacts will remain the same. “We will continue our focus on serving our customers with high-quality products, innovation, and superior service.”
Please direct any questions to your local FiberVisions representative.
FiberVisions is the global leader in developing, manufacturing and marketing polyolefin staple fibers for nonwoven applications. Through its joint venture ES FiberVisions, it is also the world’s leading supplier of bicomponent fibers. FiberVisions uses proprietary technology and state-of-the-art manufacturing facilities to supply innovative products to customers in industries such as hygiene, textiles, automotive and construction.
About Indorama Ventures
Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB) is a leading producer in the polyester value chain in Thailand with strong global network and manufacturing across Asia, Europe and North America. Its products serve major players in diversified end user markets, including food, beverages, personal and home care, health care, automotives, textile, and industrial. IVL’s main products are PTA, PET and Polyester fibre, which are distributed worldwide. IVL has approximately 8,920 employees worldwide and consolidated revenue of $5.5 billion for the last 12 months.