Performance Fibers selling Asia operations
On 7 December, Performance Fibers – one of the world’s leading producers of industrial polyester fibre and fabrics, and supplier to the tyre industry – signed a definitive agreement to sell its Asia operations to Indorama Ventures PCL (IVL), one of the world’s foremost petrochemical producers. Financial terms of the agreement, expected to close in the next few months, were not disclosed.