Sinterama And Miroglio - An Alliance In Apparel Yarns

Sinterama and Miroglio Group have agreed an alliance in polyester yarns.

Sinterama, with a turnover of 130 million euros, a global presence and, this year together with Indorama (Thailand) acquired Trevira of Germany – is a leading company in Europe. The Continuous Yarn division of Miroglio Group, with a turnover of 30 million euros is focussed on specialised yarns for the garment sector.

The result of this strategic alliance is both manufacturing and commercially based. From the manufacturing perspective, the alliance provides for Miroglio Group a reinforcement and optimisation of the production sites of Saluzzo (Italy) and Nova Zagora (Bulgaria) together with Sinterama's facilities in Italy, UK, Turkey, Brazil and China. Commercially, the particular experience of Miroglio Group's Continuous Yarn division will add to the joint resources of both Groups as they form one new Business Unit which will focus on apparel yarns, a market which requires specialisation and innovation.

To complement this alliance, Miroglio Group will become a shareholder in Sinterama Group with a view to ensuring the value of common interests and synergies. The aim of the two Groups will be to support the Italian apparel fabric manufacturers who are already known for their ability to meet the challenges of global expansion.

"'This alliance represents an important opportunity for Miroglio Group to consolidate its polyester yarn activity'" declared Giuseppe Miroglio, CEO of Miroglio Group – based on a collaboration with Sinterama – a leading player in our sector – together with the value of our specific know-how that Miroglio has developed in the apparel yarn sector.""

"This is a further step in the rationalisation and reinforcing of European polyester production – the two Groups will represent around 20% of the market" – confirms Paolo Piana, President of Sinterama – with the strong conviction of creating a centre of excellence for apparel yarns, which will have a large production capacity, together with creativity and innovation and production assets of a large Group which is linked to Trevira and Indorama as well as a global footprint in virtually every fabric manufacturing region."

SOURCE: Sinterama