Major Acquisition Completed in Europe

Indorama Ventures acquires Tollegno 1900's wool assets in Italy and Poland, supporting sustainable growth in its fibers segment. Indorama Ventures Public Company Limited (IVL), a global sustainable chemistry company, has completed the acquisition of wool spinning operations in Italy and Poland from Tollegno 1900 S.p.A. (Tollegno 1900), a leading Italian fabric and yarn producer. Tollegno 1900 has a rich family heritage with over 120 years of experience and is currently one of Europe's leading textile groups, with annual yarn spinning capacity of approximately 3,500 tonnes, focusing particularly on flat-knit and hand-knit yarns. Through this acquisition, IVL has secured two assets, including a spinning and top-dyeing operation in Poland and a yarn-dyeing operation in Italy. The acquisition represents a strategic fit for IVL's unique integrated business platform and will make a significant contribution to the sustainable growth of the Wool business, which is part of the company's Fibers segment. It will also strengthen IVL's footprint in Europe for worsted yarns and help expand IVL's wool products globally through its commercial subsidiaries in the Americas and Asia. The operations, to be renamed Filatura Tollegno 1900, will provide synergies with existing assets while adding more sustainable products to IVL's portfolio, including a full traceability project for fibers used in yarns and fabrics. Giovanni Germanetti, Chief Executive Officer of Tollegno, will continue in the same role at Filatura Tollegno 1900, facilitating continuity and exploring new growth opportunities as part of IVL. Lincoln Germanetti, Chairman and co-Chief Executive Officer of Tollegno, will remain as Chief Operating Officer at Filatura Tollegno 1900. Giovanni Germanetti stated, "Indorama Ventures is a very suitable business match for Tollegno because we are a large family company with the same core values. The agreement not only gives us comfort regarding business continuity but also enables us to move forward with trusted, key business leaders who offer new opportunities for our employees and customers to grow in the future." Aradhana Lohia Sharma, Vice President responsible for Indorama Ventures' Wool business, expressed the following thoughts: "Our Fibers segment has deep management knowledge and expertise in various yarns and textile applications. Incremental acquisitions like Tollegno contribute to the diversification of our Wool business and IVL's ability to deliver integrated sustainable products as a global company. The foundation of our acquisition strategy is to integrate talented people into IVL. The foundation of our acquisition strategy is to integrate talented people into IVL. We welcome our new employees to IVL, where their knowledge and passion can develop as part of a larger company and create value ethically." Source