Indorama Ventures Completes Acquisition of Fabric Company Avgol
Israel-based Avgol manufactures nonwoven fabrics for diapers and feminine hygiene products
Bangkok-headquartered Indorama Ventures Public Company Ltd. has completed the acquisition of Tel Aviv-listed hygienic fabric company Avgol Industries 1953 Ltd., the firm announced Thursday. Bangkok Stock Exchange-listed Indorama, a chemical producer and a manufacturer of wool yarns, announced the 66% stake acquisition in May, according to a company valuation of around $480 million.
Israel-based Avgol manufactures nonwoven fabrics for diapers and feminine hygiene products. The company employs around 900 people globally, with manufacturing sites in Israel, the US, Russia, China, and India.
Avgol factory. Photo: PR