FiberVisions a/s and Tel Rad Cuyo (TRC) have formed a joint venture for the production, marketing and sales of polypropylene fibers in South America. As part of the transaction, FiberVisions purchased 50% of TRC, the largest merchant market producer of polypropylene fibers in South America with a plant located in the San Juan province of Argentina. TRC will be renamed FiberVisions South America and the partners will work together to serve local and global customers in the region.
“We are extremely pleased to be a partner with TRC, a leading and well-respected company in South America,” remarked Stephen Wood, CEO of FiberVisions. “This joint venture will provide FiberVisions with quality local manufacturing assets and product development capability enabling us to provide even better service to our current customers in the region.”
“We believe that the venture with FiberVisions will give our customers access to the best technology and the highest quality fibers,” stated Guillermo Kraves, president of Tel Rad Cuyo. “South America is a high growth region of the world and we will be investing to support that demand.”