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Home / News / Supreme Nonwovens takes over Futuris' business

Supreme Nonwovens takes over Futuris' business

11
Feb '20
Pic: Shutterstock
Pic: Shutterstock
Supreme Nonwovens Group, India's largest nonwovens group, through its majority owned Thailand subsidiary Supreme Feltol Thailand, has taken over automotive interior trims and NVH business of Futuris Automotive. Futuris is a subsidiary of Adient, US. Post-acquisition of Futuris' business, Supreme Feltol will have a second plant in Eastern Seaboard.

Supreme Feltol Thailand is a joint venture between Supreme Treon and Feltol Thailand Manufacturing Company. Supreme Feltol began JIT deliveries from its green field plant located at Eastern Seaboard to Ford Motors and Auto Alliance Thailand in September 2019. Post-acquisition of Futuris' business, Supreme Feltol Thailand will have a second plant in Eastern Seaboard and employ 230 staff and workmen across its two manufacturing plants in Thailand.

Amit Kavrie, managing director, Supreme, said: "This acquisition further reaffirms Supreme Group's commitment to our Global Automotive OEM customers. We continue to focus in our core business areas and with the investments in Thailand, the company is on course for a geographical expansion."

He further added: “The timing is perfect as the automotive industry is going through a major technological shift. Our strong R and D base, next generation nonwoven material technologies together with competent engineering resources place us in a strong position to benefit from opportunities arising out of the technological shift. Over the next few months, the company will explore further opportunities for growth with auto OEM's in Thailand and South East Asia. We expect the Thailand subsidiary alone to generate annual sales revenue of $50 million within the next five years."

The overseas investments and expansions augur well for Supreme Group to continue growing even while the Indian automotive market remains subdued.

Fibre2Fashion News Desk (SV)

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