Indorama Ventures Public Co. Ltd. recently entered into an agreement to acquire Italy-based Sinterama S.p.A, a leading global polyester automotive interiors and high performance coloured yarns manufacturer. According to a report, the acquisition comprises five production sites in four countries in Italy, Brazil, China and Bulgaria, the last being a new market for IVL. It has a combined capacity of around 30,000 metric tonne per year. Europe imports over 275,000 metric tonne of yarns annually and Sinterama can grow and strengthen its position as local supplier.
The company currently employs 889 people. The transaction is expected to be completed in the third quarter 2019, subject to regulatory approvals. Sinterama holds leading positions in the highly specialised applications in Europe. The company is vertically integrated from chips to yarns and offers a vast range of coloured polyester yarns for the automotive, furnishing, apparel & technical applications.
This acquisition is a perfect fit for IVL. Sinterama has a strong production base, providing an excellent platform to integrate IVL’s existing specialties business. The highly complementary portfolio, customer base and geographical footprint of the two companies will open up new market opportunities & enhance value to our customer by further enabling them to leverage IVL’s existing manufacturing capabilities and supply chain.
Since its inception in 1968, Sinterama has offered innovative solutions and invested in cutting-edge product research. It has substantial accumulated knowledge developed over a long period of time. This will provide IVL comprehensive and innovative solutions for automotive and home applications to better serve customers and meet customers’ needs in the future.