Indorama Ventures has signed an agreement to acquire DuPont Teijin Films (DTF), a joint venture of DuPont and Teijin.
DTF’s film products are used in various applications, including specialty, packaging, industrial, automotive, advanced magnetic media, photo systems, electrical and electronics markets.
DTF is engaged in the production of biaxially-oriented Polyethylene Terephthalate (BOPET) and Polyethylene Naphthalate (PEN) films.
Under the deal, IVL will acquire DTF’s eight production assets in the US, Europe and China.
The deal also includes the acquisition of manufacturing and R&D operations linked with four joint ventures (JV) in the US, the UK, Luxembourg and Hong Kong, comprising of two JVs in China (51%).
In addition, IVL will acquire sales and technical capabilities, intellectual property, licenses and the Melinex and Mylar registered brands.
Subject to regulatory approvals, the deal is expected to complete at the end of this year or early 2018.
Indorama Ventures Group CEO Aloke Lohia said: “This acquisition marks a new chapter for IVL. It is the next step in creating a leading position for customer solutions in films.
“DTF provides prudent growth in an industry related to our core businesses and is a strong foundation for future growth. DTF has a strong history of R&D with over 700 patents, which makes it a strategic fit with our own innovation capabilities.
“We believe in diversity as a core value of the Company and we look forward to welcoming DTF’s strong management team and talented employees into our family.”