Investment firm KKR to invest $ 150 mn in polyester maker JBF Group

 
JBF Group manufactures polyester value chain products ranging from polyester chips, polyester yarn and films which are used in the fast-moving consumer goods, textile and packaging industries. JBF Group is one of the leading global players in the polyester segment, with six manufacturing facilities across India, Bahrain, Belgium and the United Arab Emirates. JBF, which is among the top-10 producers of polyethylene terephthalate (PET) chips and of BOPET films globally, operates three domestic facilities - one in Gujarat and two in Silvassa.
 
In addition, JBF is setting up a purified terephthalic acid (PTA) plant in Mangalore SEZ having 1.25 million metric tonne per annum capacity, which it claims to be among the largest in India.

 
"The funding provided by KKR will help JBF complete our ongoing projects. KKR's support will better enable JBF to grow our international presence and support the Make in India campaign,” said Bhagirath Arya, founder and executive chairman of JBF.
 
Sanjay Nayar, Member & CEO of KKR India, said, "This type of investment into a world-class company such as JBF is a great example of how KKR can support Indian manufacturing companies providing value to global customers."
 
The transaction is subject to customary closing conditions, including the receipt of shareholder approval and regulatory approvals from competition authorities.
 

JBF Group’s products include PET chips which are of bottle grade, textile grade and film grade; polyester yarn, such as partially oriented yarn (POY), polyester filament yarn (PFY), full drawn yarn (FDY) and other specialised yarn; and PET films, which are of thin grade, thick grade and metallised grade.