Avgol Industries 1953 Ltd.

Indorama Ventures Public Company Limited has entered into a definitive agreement to acquire a 65.72% stake in Avgol Industries, an Israel-based nonwovens manufacturer, for $1.62 per share. The transaction is expected to be completed during the second half of 2018.

Indorama Ventures and India's Dhunseri Petrochem formed a 50:50 joint venture to acquire up to 50% of Egyptian Polyester Company (EIPET) and restart its 540,000 tonne/year PET plant in Ain Sokhna, Egypt. Financial details were not disclosed.