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Reliance To Acquire Trevira

India-based polyester fiber producer Reliance Industries Ltd. (RIL), the largest private-sector company in that country, has agreed to acquire Trevira GmbH & Co. KG, a Germany-based manufacturer of polyester fibers and filament yarns. The acquisition, subject to European Union regulatory approval, will be RIL's second international acquisition and its first such in the polyester sector.

The deal includes four Trevira manufacturing plants in Germany, Denmark and Belgium, which together have an annual production capacity of 130,000 metric tons as well as Trevira's research and development facility. The acquisition, along with RIL's current expansion in India, will create the worlds greatest total polyester fiber and yarn capacity more than 1.8 million metric tons combined. "We expect that the strong commitment of Reliance to the growth of polyester and our integration into polyester raw materials will help both Trevira and Reliance to serve all our customers in Europe and other world markets with superior polyester products and even better supply chain services," said Subodh Sapra, president, Polyester Sector, RIL.

Bernd Sassenrath, CEO, Trevira, said, "We envisage that this transaction will enable Trevira not only to benefit from the access to new markets and raw materials sources, but also to leverage the Trevira brand and contribute our marketing skills and technology in specialty polyester fibers. "

August 2004