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Indorama acquires majority stake in German yarn producer
11:17 AM MST | February 3, 2014 | Deepti Ramesh
Indorama Ventures (Bangkok) says that it has agreed to acquire an 80% stake in PHP Fibers (Wuppertal, Germany). PHP is Europe’s largest producer of nylon-6,6 industrial yarn for airbag application, tires, and mechanical rubber goods and is a leading producer of polyester industrial yarns, with manufacturing locations in China, Europe, and the United States, Indorama says. Financial details of the acquisition have not been disclosed. The remaining 20% stake in PHP Fibers will be held by Toyobo (Osaka), a leading Japanese textile company, which also...
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