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Indorama Ventures acquire 65% stake in Avgol Industries

Mumbai: Indorama Ventures Public Company Limited (IVL), a global chemical producer, has announced that it has entered into a definitive…

By gta_admin , in Comapny news National News , at May 20, 2018 Tags: ,

Mumbai: Indorama Ventures Public Company Limited (IVL), a global chemical producer, has announced that it has entered into a definitive agreement to acquire a 65.72 per cent stake in Avgol Industries 1953 Ltd., for a sum of US$ 1.62 per share. Avgol is one of the largest manufacturer of nonwovens for hygiene applications in the world, based in Israel.Mumbai: Indorama Ventures Public Company Limited (IVL), a global chemical producer, has announced that it has entered into a definitive agreement to acquire a 65.72 per cent stake in Avgol Industries 1953 Ltd., for a sum of US$ 1.62 per share. Avgol is one of the largest manufacturer of nonwovens for hygiene applications in the world, based in Israel.

The transaction is expected to be completed during the second half of 2018, subject to regulatory approvals. This acquisition represents a unique opportunity for IVL to strengthen its leadership position in the high-growth personal hygiene oriented nonwovens market. Avgol offers IVL further diversification of its High value-added (HVA) portfolio. The acquisition will allow both companies to provide customers with a comprehensive range of products. Indorama Ventures will also be well-positioned to generate future growth in adjacent segments through its strong innovation pipeline, enabling the company to continue to provide compelling value and service to its customers worldwide.

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