BANGKOK - Global chemicals company Indorama Ventures (IVL) has completed the acquisition of airbag fabric supplier UTT Beteiligungsgesellschaft.
In December last year the companies announced that they had entered an agreement as IVL expressed its ambition to bring together “two pioneers in the airbag market” through UTT and IVL’s subsidiary PHP Fibers.
Aloke Lohia, group CEO commented: “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.”
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