Clifford Chance has advised Indorama Ventures Public Company Limited (IVL), one of the world's leading producers in the intermediate petrochemicals industry and a leading global manufacturer of wool yarns, on the acquisition of Kordárna Plus, a.s., a Czech-based industrial textile producer and a leading European producer of tire cord fabrics. The sellers are a group of shareholders led by Jet Investment, a private equity investment company based in Brno, Czech Republic.

The acquisition, which closed on 30 October 2018, includes one production site in the Czech Republic and one in Slovakia and the company employs over 750 employees.

Commenting on the transaction, Alex Cook, Clifford Chance's office managing partner in Prague, said: "We are delighted to have advised Indorama Ventures on this transaction, which complements their growth strategy in the automotive sector".