A consortium comprising Thailand-based purified terephthalic acid and polyethylene terephthalate
polymer and polyester fiber manufacturer Indorama Ventures PCL (IVL) and Italy-based dyed polyester
yarn manufacturer Sinterama S.p.A. has agreed to acquire polyester fiber and filament manufacturer
Trevira GmbH, Germany. The transaction is expected to close in the first quarter of 2011.
Trevira, which was reestablished in January 2010 in the wake of its insolvency in 2009,
has manufacturing sites in Germany and Poland, employs some 1,350 workers, and reported a turnover
of 240 million euros in 2010. The company will become part of Indorama’s and Sinterama’s global
network under a new joint venture company, but will continue to operate as an independent company.
IVL employs a global workforce of approximately 3,500 people and had consolidated revenues of
$2.3 billion in 2009. Sinterama has some 650 employees in five countries and an annual turnover of
120 million euros.
“The globally renowned brand of Trevira is a welcome fit to our long term growth and we see
the opportunity for a lot of mutually beneficial synergies between Trevira and our global
organization,” said Aloke Lohia, CEO, IVL Group.
“We see Trevira as a long-term investment and important extension,” said Paolo Piana,
president, Sinterama. “Our products and assets complement each other — which means we will be able
to offer our customers a stronger and more flexible network for specialities.”
“For our customers and partners this means that we will in future have an even better
presence globally,” said Klaus Holz, managing director, Trevira. Holz will continue to lead
Trevira, and will be joined by Robert Gregan as new CEO, while Piana will serve as CEO of the new
holding company.
February 22, 2011
