IVL Partners with “Toyobo” to Operate the Production of Airbag Yarns in Thailand

Indorama Ventures Public Company Limited (IVL) announced that it has, through its direct subsidiary, Indorama Polyester Industries Public Company Limited (IPI), Thailand entered into a Joint Venture Agreement with Toyobo Co., Ltd. (Toyobo), Japan, on October 23, 2020 to form a 50:50 joint venture limited liability company in Thailand named Toyobo Indorama Advanced Fibers Company Limited (TIAF).

 

The JV plans to build a new plant on the IPI factory site at Rayong for the production of PA66 airbag yarns with an annual production capacity of 11,000 Mts. Toyobo will offtake 100% of the production for its weaving plant.

 

Toyobo has a long relationship with IVL and this new JV will further strengthen their partnership especially in the fast growing airbag market. The operation is expected to start by 1st Quarter of 2022.