08 February 2011 18:34 [Source: ICIS news]
TORONTO (ICIS)--A consortium led by Thai polyester major Indorama Ventures has agreed to take over ?xml:namespace>
Indorama Ventures said it would, through a joint venture with Italian polyester firm Sinterama, acquire 75% of Trevira, with Sinterama acquiring the remaining 25%. Financial details were not disclosed.
Trevira said it would now become part of a global network that Indorama and Sinterama were establishing under their new joint venture. However, Bavaria-based Trevira would continue to operate as an independent company, it added.
Werner Schneider, Trevira's supervisory head, said the alliance with Indorama as the world’s largest manufacturer of polyester offered Trevira a sustained and secure perspective.
Indorama CEO Aloke Lohia said Trevira was one of
According to a separate report on Indorama’s website, Trevira has two plants in
Trevira was part of
In related industry news, an administrator for insolvent German polyamide yarn firm TFG Thuringer Filamente said this week that the firm had been sold to an investor.
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