RIL to buy assets of Malaysia-based Hualon
RIL has acquired polyester assets of Malaysia-based Hualon. RIL officials said that the acquisition will give the company over 7% global market share in polyester, fibre, yarn. They added that acquisition will add about USD 1 billion to revenues and 25% to their existing polyester capacity.
Hualon’s primary products include polyester, cotton and nylon. Hualon’s polyester business has an annual turnover of USD 800 million. The company has a capacity to produce over 5 lakh tonnes of polyester and yarns.
