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Thursday, 5 July 2018

Indorama to buy Europe's largest tire cord producer Kordarna




Indorama Ventures Public Company Limited (IVL) has entered into an agreement to acquire Kordarna Plus as, the largest producer of tire cord fabrics in Europe.
The Kordarna acquisition from Jet Investment 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 tonnes per annum (tpa). The company employs 786 employees.
The transaction is expected to be completed during the second half of 2018.
Tire cord fabrics (TCF) represent about 75 percent of Kordarna’s sales. Kordarna has a broad customer base and long-established relationship with major global tire companies. Its products are supplied to customers in more than 15 countries in Europe, North America, South America and Asia.

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