Global chemical producer Indorama Ventures (IVL) has entered into an agreement to acquire DuraFiber Technologies DFT México Operations, a producer of durable technical textiles for industrial, tyre reinforcement and speciality applications.
DFT’s Querétaro plant in Mexico (co-sited with IVL Mexico) has an annual production capacity of 37,500 tonnes of polyethylene terephthalate high modulus low shrinkage (PET HMLS), PET heavy denier industrial and polyamide 6 fully integrated into tyre cord fabrics and industrial textiles.
The plant’s products are used in a wide range of applications, including reinforcement for conveyor belts, hoses, single-ply roofing, tents, automotive airbags, seatbelts, safety harnesses and ropes.
The transaction is expected to be completed in the third quarter of 2017, subject to the usual regulatory approvals, including approval by the Mexican Antitrust Commission.
Concurrently with this planned acquisition in Mexico, IVL has also agreed to acquire Longlaville DuraFiber Technologies, France, which has a capacity of 35,000 tonnes/year, again subject to a definitive agreement, relevant regulatory approvals and employee approval.
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