BANGKOK -- Indorama Ventures, the Thailand-based petrochemical producer, said Tuesday it is planning to buy tire-cord fabric makers in Mexico and France, as it expands its reach in the automotive sector on the back of rising demand for lightweight, high-performance materials.
The company has agreed to acquire DuraFiber Technologies Mexico by the third quarter of this year and will finalize an agreement to purchase of DuraFiber Longlaville of France around the same time. The value of the transactions has not been disclosed.
