Reports to the Stock Exchange
The Acquisition of Mono and Bi-component Fibers Manufacturing Business
Acquisition and disposition of assets
Ref.No.IVL001/01/2012
4 January 2012
President
The Stock Exchange of Thailand
Subject: The Acquisition of Mono and Bi-component Fibers Manufacturing
Business
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.
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).
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary
______________________________________________________________________
Ref.No.IVL001/01/2012
4 January 2012
President
The Stock Exchange of Thailand
Subject: The Acquisition of Mono and Bi-component Fibers Manufacturing
Business
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.
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).
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary
______________________________________________________________________