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Indorama makes European worsted wool yarn acquisition

Thai fibre manufacturer Indorama Ventures has announced it has agreed to completely acquire Austrian worsted wool and wool blend yarn producer Schoeller Group.

The deal will be completed through Indorama’s indirect subsidiary Glanzstoff Management, according to a filing to the Stock Exchange of Thailand.

Schoeller Group, not to be confused with the Swiss textile technology developer of the same name, has operating plants in Austria, Czech Republic and Germany. This includes a dyeing facility in Austria and a spinning facility in the Czech Republic. Its total annual production capacity is 3,600 tonnes, Indorama has said. 

The transaction is expected to be completed during the second half of 2018, subject to regulatory approvals. 

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