Trevira Transferred To Reliance Group

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On August 16, 2004, the German specialty polyester manufacturer Trevira was transferred to Reliance, soon after getting the European Commission's approval. All financial formalities towards the same have been completed, following which the ownership and the management control of Trevira have been transferred to Reliance with immediate effect.

Earlier, Chairman and Managing Director Mukesh Ambani had announced the

acquisition of Trevira at Reliance Group's 30th Annual General Meeting held on June 24, 2004. Trevira has a capacity of 130,000 tones per annum of polyester fibre and yarn. Post this acquisition, the combined total polyester fibre and filament yarn capacity of Reliance will exceed 1.8 million tones, making it the largest polyester fibre and yarns producer in the world.

Trevira is the market leader in Europe in high value applications of polyester, especially in automotive and home textiles. It is a widely known and wellrecognized

brand, both amongst customers and producers of synthetic fabrics. The synergy will provide comprehensive and innovative solutions for apparel and industrial applications of polyester to customers worldwide. “It's a win-win situation for both the companies. Reliance gets a foothold in Europe through this acquisition, while Trevira will benefit from the resources of the world's largest integrated polyester producer,” says Subodh Sapra, President, Polyester Sector, Reliance Industries.