SRF buys Thai Baroda tyre conversion unit; Industex belt fabric

ERJ staff report (DS)

New Delhi, India -- SRF Ltd, the Indian polyester maker, said it has bought Thai Baroda Industries Limited in Rayong, Thailand and also the belting fabrics business of Industex Technical Textiles (Pty) Limited, based in South Africa.

Thai Baroda makes dipped nylon cord aimed mainly at the tyre industry. It has a capacity of around 12 000 tonnes/year and brings SRF's total tyre cord capacity to 65000 TPA making it the second largest Nylon 6 tyre cord fabric manufacturer in the world.

SRF also announced the acquisition of the belting fabrics business of Industex for Rs 200 million (Euro 3.15 million). The South Africa-based company has an annual production capacity of approximately 3,500 tonnes of belting fabrics with annual sales of around $16 million. With this deal, SRF said it improves its world ranking from the 3rd largest player to 2nd largest player in the arena of belting fabrics business.

SRF said it currently has a capacity of 7500 TPA belting fabrics which are manufactured in its plant at Trichy. SRF claims to be the market leader in India with 50% market share. The company's exports account for 57% of the sales.

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Press release from SRF (Thai Baroda)

Press release from SRF ( Industex)