Earnings Release
Indorama Ventures Completes Acquisition of Europe’s Leading Supplier of Polyester Automotive Interiors and High Performance Coloured Yarns
Bangkok, Thailand – 20 November 2019 – Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced it has successfully completed the acquisition of Sinterama S.p.A, a leading Global polyester automotive interiors and high performance colored yarns manufacturer.
This acquisition elevates IVL’s capability to deliver comprehensive and innovative solutions in highly specialized applications including coloured polyester yarns for the automotive, furnishing, apparel and technical applications. The combination of IVL’s existing manufacturing capabilities and supply chain with Sinterama’s industry-leading portfolio gives IVL added momentum to serve the increasing demand for automotive and home applications.
Sinterama has approximately 890 employees working at five production sites in four countries in Italy, Brazil, China and Bulgaria, which is a new market for IVL. Sinterama holds leading positions in highly specialized applications in Europe, with an excellent reputation and proven technology. Sinterama’s expertise and network of strategically located facilities will be integrated into IVL’s existing specialties business, thereby creating the industry partner of choice for high-value polyester yarns.
Mr. Aloke Lohia, Group CEO of Indorama Ventures said,
“We are pleased to complete this acquisition and excited to welcome our new colleagues to the IVL family. The addition of Sinterama bolsters our leadership position and further differentiating our portfolio to ensure that we are well-positioned to support customers today and into the future. We look forward to delivering on the opportunities that this acquisition provides, and building our journey of growth together.”