Indorama Ventures combines its global industrial filaments businesses to form the Indorama Mobility Group in order to offer essential solutions to the Tire, Automotive Safety and Functional Materials sectors
BANKGKOK, THAILAND (May 16, 2019) – Indorama Ventures Public Company Limited (IVL) today announced the formation of a new business unit within the IVL Fibers division named the Indorama Mobility Group, which will comprise three business segments, namely Tire, Automotive Safety and Functional Materials.
The formation of the Indorama Mobility Group is the culmination of successive strategic acquisitions over the past five years: PHP Fibers, Performance Fibers, Trevira Filaments, Glanzstoff, Kordarna and UTT. The Group collectively owns decades of industry knowledge, experience and brand equity and this creates a unique portfolio of fiber, yarn, single-end cord and fabric based on polyester, polyamide, rayon, aramid hybrid and PEN, emerging as an integrated global business unit.
The Indorama Mobility Group’s target markets are tire reinforcement, airbags, seatbelts, mechanical rubber goods, sewing threads, fabrics, ropes and cordage, automotive interior, home textiles and composites wherein it has built strong positions over the years, notably in the automotive sector. This intra-group businesses merger creates a truly global presence and accelerates business growth through cross proliferation of product lines, expanded customer partnership and a global manufacturing footprint.
The Indorama Mobility Group today has a sales revenue in excess of $1billion with 16 manufacturing sites in nine countries employing over 6,000 people.
Headed by Mr. Jochen Boos, Chief Executive Officer of the newly-formed Indorama Mobility Group (formerly CEO of PHP Fibers), the new unit will pursue a growth path that is intertwined with the exciting development of the Mobility industry.
“Today’s suppliers have to adapt to the strong and disruptive trends that are already approaching like e-mobility, autonomous driving, shared mobility and smart vehicles which are creating new opportunities for fibers and textiles”, said Mr. Boos.
Spearheading the global Commercial and Operations is Mr. Arnaud Closson, Chief Operating Officer, Indorama Mobility Group (formerly CEO of Glanzstoff) who remarked, “the newly created Indorama Mobility Group, supported by its long-standing legacy brands, will integrate all of its assets and unify its go-to-market strategy. We aim to leverage our global operational footprint and tailor our product portfolio to deliver even better customer value.”
The structure of the Indorama Mobility Group is aligned to provide functional leadership, driving market focus through the dedicated commercial organization of the three business segments, accelerating technology and product innovations through centralized R&D and benchmarking best practices across sites to deliver a new level of manufacturing excellence. Supporting these new initiatives is a geographically and culturally diversified workforce located worldwide.
On sustainability, the Group is committed to have a positive impact on customers and on society, contributing to Indorama Ventures’ mission to be a responsible industry leader that creates value for our business and society.
Moving forward as a new business, while there is a continuation of activities conducted under the legacy companies, the Indorama Mobility Group is the business partner and the brand to be reckoned with.
“Empowering safety and performance” – fibers and textiles that move the world.
About Indorama Ventures
Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB), is one of the world’s leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia, Europe and Americas. The company’s portfolio comprises Integrated PET, Olefins, Fibers, Packaging and Specialty Chemicals. Indorama Ventures products serve major FMCG and Automotive sectors, i.e. Beverages, Hygiene, Personal Care, Tire and Safety segments. Indorama Ventures has approx. 19,000 employees worldwide and consolidated revenue of US$ 10.7 billion in 2018. The Company is listed in the Dow Jones Sustainability Index (DJSI).
Indorama Ventures is headquartered in Bangkok, Thailand with global operating sites in
EMEA: The Netherlands, Germany, Ireland, France, UK, Italy, Denmark, Lithuania, Poland, Czech Republic, Luxembourg, Spain, Turkey, Nigeria, Ghana, Portugal, Israel, Egypt, Russia, Slovakia, Austria
Americas:USA, Mexico, Canada, Brazil
Asia:Thailand, Indonesia, China, India, the Philippines, Myanmar
Tel: +662.661.6661 ext. 680
Tel: +662.661.6661 ext. 247
This document contains “forward-looking statements” about the financial condition and results of operations of Indorama Ventures Public Company Limited (the “Company”), which are based on management’s current beliefs, assumptions, expectations and projections about future economic performance and events, considering the information currently available to the management. Any statements preceded by, followed by or that include the words “targets”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “would”, “plans”, “could”, “should, “predicts”, “projects”, “estimates”, “foresees” or similar expressions or the negative thereof, identify or signal the presence of forward-looking statements as well as predictions, projections and forecasts of the economy or economic trends of the markets, which are not necessarily indicative of the future or likely performance of the Company. Results given here are “Core”, which means excluding inventory gain/losses and one-time extraordinary items.