Agreement by IVL to purchase polyester staple fiber producer M&G Fibras Brasil

Aloke Lohia, IVL group CEO said that, “Brazil, with its large spinning industry is a natural place for the textile industry to enjoy long-term growth due to its location and large population,” ,“We intend to support the local spinning industry with a commitment to supply high-quality fibers to blend with cotton and reduce dependence on imports.”

IVL reports the acquisition gives the company a fiber footprint in Brazil, and is located close to IVL’s polyethylene terephthalate site and a third-party purified terephthalic acid site in Brazil. The transaction is expected to close during the fourth quarter and is subject to regulatory approvals.

Thailand-based Indorama Ventures Plc (IVL) has entered into an agreement to purchase polyester staple fiber producer M&G Fibras Brasil. The plant has a polymerization capacity of 75,000 metric tons per year.

Recent Posts

University of Copenhagen develops nanofibre patch for psoriasis treatment

Researchers have created an innovative nanofibre patch that aims to simplify and improve the treatment of psoriasis, a common skin…

4 hours ago

Clothing 2.0, The Marena Group to revolutionize medical garments

Clothing 2.0 has teamed up with The Marena Group LLC, a leader in medical-grade compression garments to transform the recovery…

5 hours ago

Polartec expands eco-friendly weather protection fabrics

Polartec has enhanced its Power Shield range, as it continues to replace petroleum-based materials with renewable alternatives while improving fabric…

5 hours ago

Uncaged Innovations partners to launch leather alternative

Biomaterial company, Uncaged Innovations, has collaborated with ten independent fashion brands to launch Elevate, a new eco-friendly luxury leather alternative.

1 day ago

Rudolf enhances digital pigment printing

Rudolf introduced the Digital Pigment Printing Toolbox, a package of pre-treatment products to improve the quality and sustainability of pigment…

1 day ago

Aquafil Group unveils sustainable yarns

Aquafil Group, the innovator behind ECONYL regenerated nylon, has launched the ECONYL Bespoke Collection that mimic the aesthetics of natural…

1 day ago