Indorama Ventures to acquire European tyre cord maker

Global chemicals producer Indorama Ventures has entered into a definitive agreement to acquire Glanzstoff Group, a major European manufacturer of tyre cord fabrics and single-end cords (SECs) for high-performance tyre applications.

The transaction is expected to close during the second quarter of 2017, subject to regulatory approval.

Glanzstoff is also vertically integrated into high-tenacity rayon technology and has manufacturing sites in Luxembourg, Italy and the Czech Republic.

The company offers a wide range of tyre cord fabrics and SECs in high-performance rayon, aramid, polyamide 66 and polyester, in addition to hybrid filament yarns for high-performance automotive applications.

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