Home / Knowledge / News / Textiles / Indorama to buy polyester fibers maker Tuntex
Indorama to buy polyester fibers maker Tuntex
29
Jan '08
Indorama Thailand announced it expects the strategic initiatives it is pursuing to result in more than doubling of its revenues over the next 2 years to over USD 4.2 billion.

CEO Aloke Lohia noted that the last 3 years saw the group revenue tripling USD 1.7 billion in 2007 compared to around USD 500 million in 2004.

“Going forward, we have a clear strategy for creating significant value,” Lohia said, “we are leveraging the greatest strengths we have as an industrial house, the attractive growth prospects of our business and the capabilities of our people to innovate and execute.

We expect to build on our strong earnings by focusing on two additional areas - PTA and Polyester fibers - in addition to the ongoing PET polymers growth.”

“We have signed a memorandum of understanding with Rayong based, SET listed - Tuntex (Thailand) PCL to acquire their business consisting of Polyester fibers and filaments. This makes a strategic fit with our existing Thailand based polyester business in Nakhompathom – Indo Poly Ltd.

The revenue from this segment is thus set to rise from USD 131 million currently to USD 600 million in 2010 post a total restructuring exercise.” Lohia explained, “we believe we will emerge as Thailand's premier Polyester company in Fibers as well, as we have in PET polymers, and we expect our total polymer production to rise close to 2 million tonnes from 700,000 tonnes in 1997.”

Together with Indorama associates in Indonesia and India the total production will rise to about 2.8 million tonnes and emerge as the global leader allowing the group to leverage its scale in all aspects to create customer delight.


Must ReadView All

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

India’s GDP expected to grow by 7.7% in Q1 2018: Report

Textiles | On 21st May 2018

India’s GDP expected to grow by 7.7% in Q1 2018: Report

India’s gross domestic product (GDP) is expected to grow at the rate...

Courtesy: OmniBloq

Textiles | On 21st May 2018

Bolger & O’Hearn to display OmniBloq DWR at Techtextil

Bolger & O’Hearn, a leading specialty chemical company, will showcase ...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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


May 2018

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

news category


Related Categories:

Advanced Search