Indorama Ventures Public Company (IVL), a global chemical producer, announced has entered into an agreement to acquire Invista Resins & Fibers GmbH, which owns a high value-added PET manufacturing facility located in Gersthofen, Germany. The Gersthofen site has a combined capacity of 282,000 tonnes/ annum, and employs approximately 140 employees .The transaction is expected to be completed in the 1st quarter 2019, subject to regulatory approvals.
Invista Gersthofen is a strong strategic fit for IVL and is aligned with their strategy to grow and support customer’s needs with differentiated solutions in both packaging and in industrial fibers. IVL will own the intellectual property rights of Polyshield® Pet and Oxyclear® Barrier PET, Invista’s barrier technology, in all markets globally. Polyshield® Pet and Oxyclear® Barrier PET brands are well-anchored in oxygen barrier packaging i.e. Ketchup. Together with IVL’s HVA polymer business in America’s, Gersthofen will open new opportunities in several new markets and attractive segments.
