Indorama Ventures (IVL) is to acquire Glanzstoff Industries’ tire cord business. The company is one of Europe’s largest converters for tire cord fabrics and an expert supplier of single-end-cords (SEC) and high tenacity rayon technology. Glanzstoff offers a broad range of tire cord fabric and SEC solutions in high performance rayon, aramid Nylon 66, polyester and hybrid filament yarns.
The business comprises three locations in Europe, in Luxembourg, Italy and the Czech Republic, with a new single-end-tire cord plant under construction in Qingdao, China. Total capacity at the current locations includes 12,000 metric tons of rayon yarn, 30,600 metric tons of twisting yarn, 31,000 metric tons of weaving yarn, 30,000 metric tons of dipping (fabrics), and 6,300 metric tons of single-end Cap Ply.
The acquisition of Glanzstoff’s tire cord business will offer a unique opportunity for IVL to supplement its high value-added portfolio. It will further enhance the company’s client-value proposition and provide for collaborative opportunities with the global auto industry including for autonomous and electric vehicles.