Frankfurt, Germany - Indorama Ventures Ltd (IVL) is combining its global industrial filaments businesses to form the Indorama Mobility Group in order to offer “essential solutions” to customers, the company announced 16 May.
Part of IVL Fibers Division, the new business unit will include the company’s three segments of tire, automotive safety and functional materials.
The Mobility Group, said IVL, will consolidate the company’s successive acquisitions over the past five years which include: PHP Fibers, Performance Fibers, Trevira Filaments, Glanzstoff, Kordarna and UTT.
The new group's portfolio includes fibre, yarn, single-end cord and fabric based on polyester, polyamide, rayon, aramid hybrid and PEN.
The business unit will target markets such as tire reinforcement, airbags, seatbelts, mechanical rubber goods and automotive interior, according to IVL.
With 16 manufacturing sites across nine countries, the unit posted sales of over $1 billion (€900,000) last year.
Former PHP Fibers chief executive officer Jochen Boos will head the unit.
“Today’s suppliers have to adapt to the strong and disruptive trends… which are creating new opportunities for fibres and textiles”, said Boos.
Spearheading the unit’s global commercial and operations will be chief operating officer Arnaud Closson, who previous served as the CEO of Glanzstoff.
According to Closson, the new unit will 'integrate all of IVL's assets and unify its go-to-market strategy.'