Indorama Ventures
acquisition of Kordarna and Avgol

12.10.2018 The leading integrated polyester producer Indorama Ventures Plc. Co. Ltd. (IVL), Bangkok/Thailand, will acquire Kordarna a.s., Velka nad Veličkou/Czech Republic, the largest producer of tire cord fabrics in Europe, from the Czech private equity company Jet Investment, Brno.

acquisition of Kordarna and Avgol
© Photo: Indorama Ventures
acquisition of Kordarna and Avgol

The Kordarna acquisition includes one production site in the Czech Republic and one in Slovakia, with a combined tire cord and technical fabrics production capacity of 50,000 tons/year. The company employs a staff of 786. The transaction is expected to be completed during the 2nd half of 2018.

Indorama

Ventures has also entered into a definitive agreement to acquire a 65.72 % stake in Avgol Industries 1953 Ltd., Tel-Aviv/Israel, an Israellisted global nonwovens manufacturer for a sum of US$ 1.62 per share. The transaction is expected to be completed during the 2nd half of 2018, subject to regulatory approvals.

Avgol has 6 production sites globally in Israel, the USA, Russia, China and India, with a combined production capacity of 203,000 tons/year, and employing 900 employees worldwide.

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