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.â€
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.
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McLaren has introduced a world-first innovation in supercar engineering, Automated Rapid Tape (ART) carbon fibre redefining performance while reducing waste.
Delius, a renowned textile manufacturer based in Bielefeld, Germany, is setting new benchmarks in sustainable contract fabrics with its EcoSafe…
Bank & Vogue, the parent company of Beyond Retro, is redefining sustainability in the fashion industry through groundbreaking upcycling projects.
Ravel, a recycling startup, has successfully closed its pre-seed funding round, marking a major milestone in its mission to revolutionize…
