Indorama Acquires FiberVisions Holdings
With manufacturing facilities located in the United States, Denmark, Argentina and China, FiberVisions has a global production capacity totaling more than 200,000 tons per year. The company devotes 75 percent of that capacity to the production of fibers for disposable branded feminine hygiene products and 25 percent to fiber production for automotive and industrial applications. FiberVisions also has a JV with Japan-based bicomponent fiber producer JNC.
"The acquisition of FiberVisions significantly enhances IVL's position in the world's most specialized fibers business for hygiene products and other growing fiber applications," said Aloke Lohia, Group CEO, IVL. "As the largest producer of polypropylene staple fiber, FiberVisions complements our strength as the world's largest polyester producer and together we will increase our ability to satisfy customer needs in all parts of the world."
"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," said Dr. Stephen Wood, CEO, FiberVisions. Wood said FiberVisions' customer and supplier relationships will not change as a result of the acquisition, adding, "We will continue our focus on serving our customers with high-quality products, innovation, and superior service."
IVL's acquisition of FiberVisions follows several other notable acquisitions over the last year including Wichita, Kan.-based Invista's U.S. and Mexican polyester assets; Germany-based polyester fiber and filament producer Trevira GmbH, acquired through a JV with Italy-based Sinterama S.p.A.; Ireland-based Wellman International Ltd.'s recycling and fiber businesses in Europe; and South Korea-based SK Chemicals Co. Ltd.'s polyester assets in Indonesia and Poland.
January 10, 2012