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Indorama completes acquisition of  Kordárna

Indorama completes acquisition of  Kordárna

Indorama Ventures (IVL) announced the completion of its acquisition of Kordárna Plus a.s., the largest producer of tyre cord fabrics in Europe.

The acquisition elevates IVL’s position in the tyre cord market and enhances IVL’s flexibility to serves the tire industry as a global solution provider.

Kordárn has two production sites in Slovakia and the Czech Republic that have a combined tire cord and technical fabrics production capacity of 50,000 tonnes per annum. The company employs 786 employees.

In July , IVL entered into an agreement to acquire Kordárna. IVL said , “The acquisition fits perfectly with IVL’s strategy to further grow the high value-added automotive segment and to establish itself as a major global supplier to the fast-growing tire industry.”

Aloke Lohia Group CEO of Indorama Ventures, said, “The acquisition of Kordárna is another demonstration of our aspiration to become a world-scale supplier to the automotive industry. Following the acquisitions of PHP, Performance Fibers and Glanzstoff, Kordárna is evidence that we continue to strive to establish a position as a major global supplier in what is a very dynamic environment. Combining our forces will create countless opportunities in enhancing our products and processes to become a provider of sustainable solutions to the industry.”


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