ISTANBUL, Turkey (May 20)—Haci Omer Sabanci Holding A.S. has bought Diolen Industrial Fibers B.V.'s polyester industrial yarn and tire cord fabric operations in Brazil to expand its position as a supplier of yarns to South America.
Sabanci is buying Diolen's Companhia Bahiana de Fibras unit in Camacari, Brazil, a business Diolen expanded just last year by more than a third to 19,000 metric tons annually. Terms of the transaction were not disclosed.
Arnhem, Netherlands-based Diolen—a unit of Acordis Industrial Fibers B.V.—said the transaction follows its strategy, which emphasizes serving European customers from a local supply source, according to Diolen CEO Jan Michiels.
Sabanci's principal polyester industrial/tire yarn operations are through its SaKosa operation in Kocaeli, Turkey, near the company's Kentsa integrated tire and tire supply complex in Izmit, Turkey. The site includes the Brisa tire joint venture with Bridgestone Corp., the BekSa steel cord venture with Bekaert S.A., and Kordsa, a wholly owned tire cord fabric processor.