Polyester giant Indorama Ventures (IVL, Bangkok / Thailand; www.indoramaventures.com) is acquiring a 65.72% stake in nonwovens manufacturer Avgol Industries 1953 (Tel Aviv / Israel; www.avgol.com). Indorama intends to expand its leading position in the market for hygiene products. The transaction is expected to be completed in the second half of 2018.

Avgol is the world's third-largest manufacturer of nonwovens for hygiene applications, such as diapers, and holds a global market share of around 10%. It has production capacities of 203,000 t/y and around 900 employees in a total of six plants in Israel, the US, Russia, China and India. Hygiene products make up around one-third of nonwoven applications.