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By Our Staff Correspondent
MUMBAI, JUNE 24. In a significant move, the Rs. 75,000 crore Reliance Industries has finalised the acquisition of Trevira GmbH, an erstwhile division of the German firm Hoechst AG and a leading polyester producer in Europe. The Trevira acquisition will give the company a capacity of 1.8 million tonnes annually of polyester and will make it the largest polyester fibre and yarn player in the world. Headquartered in Frankfurt, Germany, Trevira operates polyester plants in Germany, Belgium and Denmark. Mr. Ambani, said the Trevira acquisition "gives Reliance a well-timed entry into Europe to capture the growth potential in Eastern Europe." Further, he said over the next two years, Reliance would be adding a further half a million tonnes of polyester capacity by investing in a 2.40 lakh tonnes per annum (tpa) polyester staple fibre plant and a 2.16 lakh tpa polyester filament yarn plant at Hazira and a 94,000 tpa polyester filament yarn plant at Patalganga.
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