Indorama acquires Europe's PHP Fibers

Thailand-based Indorama Ventures Public Company Limited has agreed to acquire PHP Fibers GmbH, Europe’s largest airbag yarn maker, for an undisclosed amount. While Indorama will hold 80% of PHP, the remaining 20% will be held by Toyobo, a leading Japanese manufacturer of high-function products to the automotive and other industries.
 
Aloke Lohia, Group Chief Executive Officer of Indorama Ventures, emphasised that the acquisition of PHP significantly enhances the company’s High Value Add (HVA) product portfolio with the addition of high performance automotive and industrial products. “We believe that the strategic combination of Indorama Ventures’ Fiber business and PHP in Europe, North America and Asia will provide extensive synergies. We are also very proud to partner with Toyobo, an eminent Japanese business leader, in this global venture,” he added.
 
“The management team at PHP is highly experienced and we intend to fully leverage this opportunity to develop synergies with our existing portfolio of technical fibre business to further enrich our global brand as well as create superior value for our customers,” informed Lohia. Indorama with PHP will strengthen the group’s technological capability to fast track its HVA business growth, creating an integrated global leader in the high performance automotive, tire cord and industrial yarns segment.