Home / Knowledge / News / Textiles / Indorama Polyester (Thailand) acquires Tuntex – the inside story
Indorama Polyester (Thailand) acquires Tuntex – the inside story
22
Dec '08
Indorama Ventures Company of Thailand has acquired 97 percent equity stake in Tuntex (Thailand) Public Company Limited. The Company paid Baht250 million (US $7.14 million) last week for an additional 31 percent stake.

Two production lines of polyester fibres and yarns have come under Indorama acquisition. With this, Indorama will become Thailand's largest polyester manufacturer, up from fourth place currently.

Indorama Ventures Company curtailed one of the production line of Tuntex Thailand's to produce polyethylene terephthalate (PET) slices and the other line will continue to make polyester fibers and yarns. The conversion to PET resins of one line is expected to complete in Q3, 2009.

While speaking exclusively to Fibre2fashion.com, official sources from Indorama Ventures provided few details and said, “This was a strategic move and it would help the Indorama to improve the customer satisfaction and would also help in optimum utilization of capacity and production facility of the same group.”

“Tuntex's production would rise to 400,000 ton a year once the expansion is complete. This was necessary as Indorama exports 40 percent of its total output to Brazil, Russia, India and China in form of Polyester chip. The polyester export ratio would be raised to 70-80 percent after Tuntex is ready to resume operations,” informed the source.

He further revealed, “The PET capacity is expected to start commercially from July 2009. Currently the conversion and curtail in production line is limited to this unit only. After completion of this project it is anticipated to produce more 100,000 mt per year of PET chips. Above all company official do not reveal the cost behind this entire production line curtailment. The entire process will be completed with retention of current work force.”

In year 2009 production capacity of Indorama polyester will cross the 1.21 million ton per year as the Company is planning to install a new polyester plant in U.S.A which is expected to start successfully in second half of next year. Construction work for this new PET plant is 73 percent complete. It will have two lines; the first line will begin operations in April 2009 and the second line is expected to start some where in June 2009.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Kevin Nelson
TissueGen

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Paolo Ocleppo
Sandvik Hyperion

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra

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

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

September 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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

Yes No

Active Poll

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

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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

Yes No

Active Poll

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

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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

Active Poll

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

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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