Indorama Ventures has bought Dura Fiber Technologies. Dura Fiber is a Mexican producer of durable technical textiles for industrial, tire reinforcement, and specialty applications.

This acquisition is aligned with Indorama’s strategy of pursuing accretive growth opportunities in the high value-added automotive segment. Dura Fiber is the sole domestic tire cord fabric producer in Mexico and has a broad customer base and a long-established relationship with major global tire companies.

This acquisition expands the breadth of Indorama’s tire cord fabric products and provides the opportunity to leverage its global scale and assets to capture synergies and vast market opportunities. It is an opportunity to strengthen its presence in the fast growing markets of Mexico and Europe, and further enhance the company’s leading position in the automotive segment. With the acquisition of Dura Fiber, it will be best positioned to address a wide range of applications in the automotive fiber market and expand capabilities to deliver best-in-market services to customers.

This highly differentiated value proposition will deliver greater benefits for its customers and drive forward Indorama’s next phase of strategic growth as the leading fiber partner for the automotive industry. The automotive fiber market is growing at six per cent CAGR in 2017-2021.