Home / Knowledge / News / Textiles / Despite PTA overcapacity Indorama Ventures net skyrockets
Despite PTA overcapacity Indorama Ventures net skyrockets
07
Aug '14
Chinese PTA overcapacity continues to depress Indorama Ventures Public Company Limited (IVL) feedstock segment, despite which, net profit skyrocketed 163% to THB 1.8 billion in the first half of 2014, over the same period of 2013.

IVL a leading vertically integrated polyester value chain producer, witnessed overall revenues of THB 125.7 billion in the first half of 2014, an impressive 12% rise over the same period in 2013.
In the same period, core EBITDA too surged 44% to THB 10.2 billion.

IVL said, “The Chinese PTA overcapacity continues to depress our feedstock segment but the Company is optimistic that the bottom has been reached with most producers operating at below cost over last two years, which has led to industry restructuring and better producer discipline.”

In the period under review, IVL successfully closed the deal in end April 2014 to acquire PHP Fibers, a leading global Nylon 66 air bag yarn supplier, which enabled IVL to make its maiden entry into the airbag and tire cord business.

IVL has also started PET packaging business in Philippines, post its successful entry into Nigeria and continues to develop this segment in under-served markets with high growth potential.

Aloke Lohia, Group CEO of IVL said, “2014 has been positive for all segments of the business and especially our focus on the High Value Add (HVA) products continued to gain traction and are now contributing to about 40% of our core EBITDA”.

“The resultant strong generation of operating cash flow of THB 12.9 billion in the first half of 2014 is testament to the strength of the group’s global footprint and its diversified sources of revenue while remaining focused in an industry that our management is passionate about,” Lohia noted.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search