Indorama Ventures acquires Avgol Industries
Indorama Ventures (IVL), a global chemical producer, has completed the acquisition of Avgol Industries, a leading global manufacturer of nonwoven hygiene fabrics. The acquisition is well aligned with IVL’s strategy of pursuing accretive growth opportunities in the high value-added hygiene segment.
It 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 nonwoven products that best serve customer needs.
Avgol offers a comprehensive range of nonwoven 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.