By THE NATION
Indorama Ventures has previously announced its agreement to acquire Avgol on May 14 2018.
The acquisition is well aligned with IVL’s strategy of pursuing accretive growth opportunities in the high value-added hygiene segment. Avgol is a leading manufacturer of high-performance non-wovens for hygiene applications serving the global baby diaper, adult incontinence and feminine hygiene markets.
Avgol offers a comprehensive range of non-woven fabrics and has broad expertise in developing and manufacturing customised solutions to address consumer requirements.
It has six production sites globally in Israel, the US, Russia, China and India, with a combined production capacity of 203,000 tonnes/annum, and has around 900 employees worldwide.
The acquisition offers extensive value creation and synergy within Indorama Ventures, including growth opportunities in adjacent segments through the strong innovation pipeline. The addition of Avgol reinforces IVL’s existing leading position in this segment.
IVL is now able to offer a full suite of personal hygiene-oriented non-woven products that best serve customer needs, the group’s chief executive officer Aloke Lohia said.
He added that the company is thrilled to have completed the acquisition of Avgol, and welcome Avgol’s employees to the Indorama Ventures family. This acquisition is another testament to the work of our team and their focus on providing the best value to our customers and driving long-term value creation for our shareholders.
Avgol is an excellent complement to the IVL’s HVA portfolio, and brings a unique expertise in high-performance nonwoven. Given their distinctive position and strong reputation in the personal hygiene segment, IVL now have significant presence in this high-growth market, and are well-positioned to capture new growth opportunities.”