Home / Knowledge / News / Textiles / Indorama Ventures completes purchase of Bangkok Polyester
Indorama Ventures completes purchase of Bangkok Polyester
13
May '15
Global petrochemical and fibres producer and Thailand based Indorama Ventures Public Company Limited (IVL) said it has completed the acquisition of Bangkok Polyester PCL in Rayong, Thailand.

A press release from IVL informed that the acquisition raises Indorama Ventures PET capacity share in Thailand from 43 per cent to 58 per cent.

Earlier on March 18, IVL had said that its subsidiary Indorama Petrochem Ltd has signed a definitive share purchase agreement to acquire a 94.91 per cent equity stake in Bangkok Polyester PCL.

Bangkok Polyester manufactures and markets premium grade PET resins for packaging of food, drinks, cosmetics and medicine to overseas and domestic customers and has an annual capacity of 105,000 tons.

It was setup in February 1994 with an initial registered capital of baht 1,000,000, which was increased to bath 1,235,625,000 within two years.

It became a public limited company in July 2000 and currently, the Company has a registered capital of baht 200,123,560 divided into 20,012,356 common shares at a par value of baht 10 per share.

Bangkok Polyester is a significant exporter of PET to Japan, which is currently the world’s largest importer of PET, and enjoys zero import duties from Thailand.

"The acquisition of Bangkok Polyester is in line with the Company’s strategy of vertical integration as it is located close to the Company’s PTA facilities in Rayong," IVL added in the press release.

Group CEO Aloke Lohia said, “This acquisition is of significant synergistic value to us and will further allow us to work even more closely with customers in Thailand and in Japan.

“Our multiple sites in Thailand as well as in the region with a full portfolio of regular and differentiated PET offer us a unique positioning and superior risk mitigation,” he added. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search