Takeover bid for Israeli nonwovens maker Avgol fails / Pet giant still holds majority stake
Global PET market leader Indorama Ventures (Bangkok, Thailand; has been unsuccessful in its attempt to acquire the outstanding shares in Israeli nonwovens manufacturer Avgol Industries 1953 (Tel Aviv; The news comes from a letter from the company to the Bangkok Stock Exchange, which also says that the required quorum of 95% of shareholders willing to sell was not achieved.

The PET giant acquired a majority stake in the nonwovens producer last decade (Photo Avgol)

Avgol, which operates six plants in Israel, the US, Russia, China, and India, employs around 800 and is one of the world’s top three manufacturers of diaper and sanitary towel nonwovens. IVL bought a majority holding stake of nearly 66% of the company in 2018 to expand its presence in the hygiene products market.

30.10.2023 [253910-0]
Published on 30.10.2023
Indorama Ventures: Übernahmeangebot für Vliesstoffhersteller Avgol gescheitertGerman version of this article...

© 2001-2024  |  Imprint  |  Privacy  |  Cookie settings is a business information platform for the European plastics industry. It is part of KI Kunststoff Information and PIE Plastics Information Europe, one of the leading content providers for the European plastics industry. We offer daily updated business news and reports, in-depth market analysis, polymer prices and other services for the international plastics industry, including a suppliers guide, career opportunities, a trade name directory and videos.

News | Polymer Prices | Material Databases | Plastics Exchange | Suppliers Guide | Jobs | Register | Advertising

PIE – Plastics Information Europe | KI – Kunststoff Information | KunststoffWeb | Plastics Material Exchange | Polyglobe | K-Profi
© 2001-2024 by, Bad Homburg
Date of print: 03.03.2024 11:30:47   (Ref: 524151580)
Text and images are subject to copyright and other laws for protection of intellectual property.
Any duplication or distribution in any media as a whole or in parts requires prior written approval by Plasteurope. URL: