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Business
Reliance Buys Polyester Firm
June 28, 2004
| A version of this story appeared in
Volume 82, Issue 26
Reliance Industries has agreed to acquire Trevira, the European polyester producer that Hoechst spun off in 1998, for a reported $97 million. Reliance, India's largest private company, says the purchase is only its second international acquisition. Trevira had sales last year of almost $360 million from four European plants. Combined with an expansion now under way in India, the purchase will make Reliance the world's largest polyester fiber and yarn maker, with annual capacity for 1.8 million metric tons, the firm says.
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