BOBINGEN, Germany — Trevira GmbH, the polyester fibre manufacturer headquartered in Germany, is now owned by a consortium of Thai-based Indorama Ventures PCL and Itallian-based Sinterama. The consortium signed a share purchase agreement for the acquisition with CA Werner Schneider, effective February 4, 2011.

"We have secured in the last year the financial basis for the new Trevira, continued restructuring as scheduled and we have returned to the invest mode," said Schneider. "Trevira has finished the year 2010 with a better result than was foreseen in our ambitious planning. The alliance of a European specialist in dyed yarns with global footprint and with the world’s largest manufacturer of polyester offers Trevira now a sustained and secure perspective. I am certain that with these partners we have found the investors who are best suited to Trevira."

Trevira GmbH will become part of a global consortium which includes Indorama and Sinterama.

“The globally renowned brand of Trevira is a welcome fit to our long term growth and we see the opportunity for a lot of mutually beneficial synergies between Trevira and our global organization," said IVL Group CEO Aloke Lohia.

Paolo Piana, president of Sinterama sees this investment as longterm because it will strengthen his network of customers.

“We see Trevira as a long-term investment and important extension," Piana said. “Our products and assets complement each other – which means we will be able to offer our customers a stronger and more flexible network for specialities“.

Trevira, sees the deal as a benefit for being brought into the operations of a financially strong corporation.

“For our customers and partners this means that we will in future have an even better presence globally," said Trevira’s managing director, Klaus Holz. “Above all, though, it secures continuity in our good relationships.“

The final takeover is expected to be made official by end of Q1 2011. “We anticipate, however, that this will take place rapidly and that we can finish closing in the first quarter," Schneider said.

The existing team wil be bolstered by another Managing Director, Robert Gregan, who will join the company as the CEO. Piana will serve as the CEO of the new holding company.