IVL to acquire worsted wool yarns business in Europe

Schoeller Group is a leading European producer of pure wool and wool blend worsted yarn, having one dyeing facility in Austria and one spinning facility in the Czech Republic, with a total production capacity of 3,600 tons per annum and having numerous industrial and non-industrial applications used by global leading brands. This acquisition will further enhance the HVA portfolio of IVL.

This transaction is expected to be completed within second half of 2018, subject to regulatory approvals, IVL said through the Stock Exchange of Thailand.

The value of the acquisition, calculated in accordance with the regulations of the Capital Market Supervisory Board and the Stock Exchange of Thailand, as prescribed by the regulations 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), is less than 15 per cent and the total size of all transactions in the past 6 months also does not exceed the 15 per cent threshold limits as prescribed in the regulations. (RR)

ALCHEMPro News Desk – India