07/05/2011

www.plasticker.de

Trevira: Sale completed

Sinterama & Indorama Ventures take over the wheel

The takeover of polyester manufacturer Trevira by the consortium of Indorama Ventures PCL (Thailand) and Sinterama (Italy) is complete. After receiving the green light from the relevant cartel authorities in Brussels and Turkey, the change in ownership finally took place on 01.07.2011. While the contract with auditor, Werner Schneider, to acquire the company had been signed by both investors in February 2011, it had still to await the approval of the cartel authorities.

Robert Gregan takes top position
As announced earlier, Robert Gregan (46) is now joining Trevira as CEO. He is to manage the company along with Klaus Holz, who has acted as MD since January. Gregan has spent most of his career in various companies in the man-made fibre industry. Starting with Trevira means a return to his roots for him, since he had begun his working life in the former Hoechst AG. After completing his business studies course, he was active in a variety of functions and sectors, including the fibres division. He subsequently managed Business Lines at fibre manufacturers KoSa and Invista, was CEO of Kelheim Fibres and Dolan and also Head of the Nonwoven Business Unit at Lenzing. He finally worked independently as a consultant.Gregan says that he is looking forward to starting at Trevira. "I have been following the acquisition over the last ten months and have gained a good insight. It's now a matter of implementing the projects step by step, together with the workforce and the management team. My predecessors and the experienced team have already set many good and important things in motion, and now we have to strengthen Trevira for future crises. I look forward to this challenge and I am sure that together we will achieve our goals”.

Business at full capacity in first six months
The company reports that operations in the first six months of 2011 were running satisfactorily and according to plan. The situation in the raw materials markets continued to present a great challenge for all downstream stages, but capacities were being well exploited. Demand in most market segments was holding at a high level, with home textiles and hygiene showing the main positive signs.