The chemical company Indorama Ventures Public Co. Ltd. (IVL), Bangkok/Thailand, has completed the acquisition of UTT Beteiligungsgesellschaft mbH, Krumbach/Germany.
UTT is one of the leading suppliers of airbag fabrics, and has manufacturing sites in Germany and Mexico with a combined capacity to produce around 70 million m² of fabrics. UTT also produces other highly specialized solutions in the field of technical textiles.
The acquisition of UTT reinforces IVL’s position as a global leader and integrated supplier of airbag yarns and textiles. This further accelerates IVL’s growth momentum in the automotive sector by bringing together a complementary product portfolio. IVL can offer a wider choice to its customers from yarns to fabrics.