At the Board of Directors' Meeting No. 1/2012 of Indorama Ventures Public Company Limited (“IVL”), held on January 4, 2012, the Board approved to acquire 100% of FiberVisions Holdings LLC, a global manufacturer of specialty mono and bi-component fibers based in Duluth, Georgia, USA.
FiberVisions has a total global capacity of 221,000 tons per annum of specialties, with 117,000 tons per annum capacity in the United States of America, 90,000 tons per annum capacity in Europe and 14,000 tons per annum capacity in China. At the Board of Directors' Meeting No. 1/2012 of Indorama Ventures Public Company Limited (“IVL”), held on January 4, 2012, the Board approved to acquire 100% of FiberVisions Holdings LLC, a global #
FiberVisions Holdings, LLC and its subsidiaries are the global market leader in high value applications of fibers. The products are used in non-woven industries and used for various applications in hygiene, wipes, construction, automotive and textile sectors. These companies have several valuable patents and technologies together with a strong R&D setup with substantial accumulated research knowledge.
The acquisition of FiberVisions will significantly enhance IVL's position in the World's most specialized fibers business for hygiene products and complements IVL's strength as the World's largest polyester producer with FiberVisions' as the largest producer of polypropylene fiber, who together will better cover customer needs in all parts of the World.
A new, indirect subsidiary, Indorama Ventures Performance Fibers Holdings USA LLC, has been formed in the USA in order to acquire the business. The closing of the transaction will take place on January 6, 2012.
The value of the acquisition, calculated in accordance with the regulation of the Capital Market Supervisory Board and the Stock Exchange of Thailand, is less than 15 percent as prescribed by the regulation of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, 2004 (as
amended).
Indorama Ventures Public Company Limited
marketing@alchempro.com
