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Indorama continues to hunt for opportunities in Europe
17
Dec '09
Indorama Polymers Plc, one of the world's leading producer of polyethylene terephthalate resins (PET) is actively seeking acquisitions in the European market where the demand for PET continues to outstrip the supply by more than a million tons, the company's executives say.

“Europe, despite the economic slowdown, continues to see imports of about one million tons per annum, and this is a gap we would want to fill,” Dilip Kumar Agarwal, the chief executive officer of IRP said.

Mr. Agarwal suggested that the ongoing rationalization in the industry provided opportunities for companies such as IRP to undertake projects that are competitive and strategic.

He said that IRP has various options that the company may want to undertake as demand in the European Union stands at around 3.1 million tons per annum while supply there is just 2.1 million tons. This, coupled with various sanctions and antidumping measures has created a shortage in the market.

Mr. Agarwal said that IRP is interested in investing in northern Europe and is currently looking at, among others, a large scale PET plant using the latest generation technology. He strongly believes that only PET plants that are integrated with PTA plants have a future. He is also interested in plants that have the potential to produce “Green PET”, by recycling used bottles in one part of the facility.

Possible acquisitions coupled with the start up of existing plants would mean that the sales volume for IRP in the near future could continue to grow upon the 45% cumulative average growth rate (CAGR) that the company has seen since 2005.

Indorama Polymers Public Company Limited

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