Indorama has announced an agreement to purchase Performance Fibers (PF) Asia operations from an affiliate of Sun Capital Partners.
AKC Note: The PF high tenacity polyester plant in Asia is located in Kaiping, Guangdong Province, China and has 48,000 tons of tire cord yarn as well as 41,000 tons of tire cord fabric capacity. The plant is the 2nd largest producer of polyester tire cord fabric in China. Indorama will retain the right to use the Performance Fibers name. Indorama already has a PET resin and fiber chip plant in Kaiping close to the Performance Fibers site. The remaining Performance Fibers operations in USA, Mexico, Germany and France will continue to operate under the ownership of Sun Capital with leadership from the existing management. Indorama purchased the PHP operations in Germany in February of this year including the polyester high tenacity business of the former Diolen.
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