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

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Kerem Durdag
Biovation II LLC

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Robert Brunner
Devereux

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Madhu Jain
Madhu Jain

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

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
March 2017

March 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