Reliance to take over ops of Hualon assets in Nov

19 October 2007 17:28  [Source: ICIS news]

NEW DELHI (ICIS news)--India’s Reliance Industries Limited (RIL) is likely to take over operations of the acquired polyester and nylon assets of Malyasia’s Hualon Corpfrom 1 November, the company said on Friday.

The company said the acquisition would give it the market access to the European polyethylene terephthalate (PET) market as well as Turkish market for polyester staple fibre (PSF).

The Malaysian assets would “serve RIL’s strategic export base after meeting rising internal domestic demand”, it added.

Explaining the synergy between its polyester business and acquired assets, RIL said the acquisition would provide strong presence in downstream operations. The acquired assets have tie-ups with retail majors and global brands.

In a presentation, the company said Hualon expertise would thus complement RIL’s in “extracting maximum value out of our products”.

The assets, located at Nilai and Melacca, comprise 550,000 tonnes/year capacity of PSF, polyester filament yarn, fully drawn yarn and PET, 36,000 tonnes/year of nylon, spun yarn capacity of 250,000 spindles, weaving capacity of 5,758 water jet looms, texturising capacity comprising 200 Murata machines and finishing capacity of 80m yards.

By: Naresh Minocha
+65 6780 4359

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