Indorama: plans for acquisition of Schoeller

Indorama: plans for acquisition of Schoeller

The chemical company Indorama Ventures Public Co. Ltd. (IVL), Bangkok/Thailand, through its indirect subsidiary, Glanzstoff Management GmbH, Tulln/Austria, has entered into a definitive sale and purchase agreement with Schoeller Immobilien- und Beteiligungs GmbH and Schoeller Management GmbH, both based in Hard/Germany, to acquire 100% equity stake of Schoeller Group, Pullach/Germany, with operating plants in Austria, the Czech Republic and Germany.
Schoeller Group is a leading European producer of pure wool and wool blend worsted yarn, having a dyeing facility in Austria and a spinning facility in the Czech Republic, with a total production capacity of 3,600 tons/year and for numerous industrial and non-industrial applications.
This transaction is expected to be completed within 2nd half of 2018, subject to regulatory approvals.