COURTAULDS AND HOECHST VISCOSE/ACRYLIC JOINT VENTURE (1994)

This news first emerged in a May 93 article.  I also mentioned confused customers in an earlier post which covered the sale of the SAICCOR pulp plant (getting out of commodity businesses like fibres and textiles) to fund buying into the adhesives and aerospace and to increase focus on higher value businesses.  

Here, Courtaulds appear to be strengthening the fibres businesses again, but only in Europe.

Courtaulds and Hoechst have completed the agreement to merge their European viscose and acrylic fibre operations. The new joint venture in which Courtaulds will have a majority shareholding, is called Courtaulds European Fibres. Courtaulds' Tencel and US viscose businesses and Hoechst's other fibre operations are not included in the agreement. The joint venture will be Europe's second largest fibre producer, with 30% of total viscose and 25% of total acrylic staple fibre capacity. The agreement covers operating facilities in Spain, Germany and the UK's Courtaulds Fibres Ltd. The combined annual turnover of these operations is some £360m.

 Anon., Text. Mon., May 1994, p.2