Home / Knowledge / News / Textiles / IVL acquires US ethylene gas cracker in Louisiana
IVL acquires US ethylene gas cracker in Louisiana
28
Sep '15
Indorama Ventures Olefins LLC, a subsidiary of Thailand based Indorama Ventures Public Company Limited (IVL) has acquired an ethylene cracker located in Lake Charles, Louisiana, US.

“Through the acquisition, IVL is taking a 76 per cent interest in the ethylene cracker, with the remaining 24 per cent financial investment being made by Indorama Corporation,” a press release from IVL informed.

The Lake Charles cracker can process both ethane and propane feedstock to produce approximately 370,000 tons of ethylene and 30,000 tons of propylene per annum.

According to the company, Indorama Ventures is already a major producer of purified ethylene oxide (PEO) and mono ethylene glycol (MEG) in the USA, for which ethylene is the feedstock.

CEO of Indorama Ventures Aloke Lohia said, “We are very excited by this acquisition as it accomplishes IVL's core strategy to integrate our polyester value chain and provides a solid, advantaged cost position to our portfolio.”

“Earlier in the year, IVL acquired a 600,000 tons per annum PTA plant in North America, due to which, IVL now has onshore integration in the three key continents it operates in,” Lohia added.

“We are targeting a commercial startup before the end of 2017, which will make us the first Thai company to take advantage of the shale gas revolution in the US and ahead of the greenfield crackers being constructed,” he stated.

The integration economics with olefins will provide IVL with a significant long term cost advantage across its North American footprint.”

The cracker is a joint investment with Indorama Corporation (IRC), which has significant operational experience in olefin cracking.

IVL is one of the world's leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia, Europe and North America.

The company's portfolio is comprised of categories of polymers, fibers, and packaging, selectively integrated with self-manufactured ethylene oxide or glycols and PTA.

IVL products serve niche applications in beverages, hygiene, personal care and safety segments and has 14,000 employees worldwide and consolidated revenue of $7.5 billion in 2014.

Indorama Corporation is a leading Asian industrial company based in Singapore with manufacturing plants in over seven countries across Asia, Europe, and Africa.

Indorama Corporation is the largest producer of olefins and polyolefins in West Africa and the second largest in Africa and also produces other industrial products such as fertilisers, textile raw materials, and disposable gloves. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X