Tuesday, 18. December. 2018 14:03 Age: 31 Tag(e)
Category: News

PHP Fibers expands its Portfolio in the Airbag Sector


Just over a year ago, PHP Fibers announced its investment in a new airbag weaving mill with the support of minority owner Toyobo. Due to the growing global market and developments in the airbag market, PHP owner Indorama Ventures decided to expand further in the airbag sector and invest in this promising segment.

Indorama Ventures plans to acquire 100% of UTT Beteiligungsgesellschaft, Germany, through its subsidiary PHP Fibers. A corresponding contract was signed on 7 December 2018.

UTT is one of the leading suppliers of airbag fabrics and other highly specialized solutions in the field of technical textiles. With two production plants and 420 employees in Germany and Mexico, UTT produces around 70 million m˛ of fabric.

The takeover of UTT brings two pioneers closer together in the airbag market, who have been working together for over two decades in a spirit of partnership and trust. This acquisition provides PHP with the opportunity to further expand its airbag fabric portfolio and become an integrated manufacturer of airbag yarns and fabrics.

Further informations:

Indorama Ventures Announces Acquisition of UTT:
www.indoramaventures.com/en/updates/other-release/1199/indorama-ventures-announces-acquisition-of-utt

IVL Presentation:
ivl.listedcompany.com/misc/presentation/20181211-presentation.pdf