Home / Knowledge / News / Textiles / Indorama Ventures buys polyester assets in Poland & Indonesia
Indorama Ventures buys polyester assets in Poland & Indonesia
10
Dec '10
Thailand's Indorama Ventures Public Company Limited has signed agreements with Korea's SK Chemicals Company Limited to acquire the entire issued capital of SK Eurochem Sp. z o.o., in Poland and PT SK Keris together with its subsidiary PT SK Fiber in Indonesia.

The acquisitions will consolidate Indorama Ventures (IVL) position in the two important emerging markets of East Europe and Southeast Asia with Polyethylene Terephthalate resin (PET) and Polyester Fibres and Yarns businesses. SK Eurochem is a 140,000 tons per annum PET manufacturing facility while SK Keris is a 160,000 tons per annum PET and Polyester Filament Yarn manufacturing facility and SK Fiber Indonesia is a Polyester Filament Yarn manufacturing facility with a capacity of 36,000 tons per annum.

Mr. Aloke Lohia, Group CEO of Indorama Ventures Pcl, said, "The business and markets of these SK Chemicals' assets are in new and attractive geographic regions that Indorama has been keen to develop. These acquisitions will allow the Company to build upon its objective of expanding its global platform by entering emerging markets with high long-term potential for demand. This will also strengthen our value proposition to our regional and global customers and stakeholders alike, while further reinforcing our ongoing focus on the Polyester value chain."

Indorama Ventures has built up a strong brand with cost leadership position in the Polyester value chain. The acquisition in Poland is virtually integrated with a third party supplier of Purified Terephthalic Acid (PTA), further consolidating the Company's low cost structure.

The Indonesian assets very much mirror the earlier announced acquisition of parts of Invista in USA and Mexico, in that they produce differentiated polymers and fibres that complement Indorama Ventures portfolio of speciality products. Indorama will now be amongst the largest producer of polymer for films to serve markets in Asia, Europe, USA and Latin-America.

"As IVL expands into the Polyester value chain and enhances its product capabilities, we are creating appeal to new customers with our differentiated portfolio of attractive and value-added products. These new acquisitions in Indonesia along with previously announced plans in USA and Mexico will allow us to offer a broader range of specialist polymers and fibres to serve customers in Asia and Americas," Lohia added.

The Royal Bank of Scotland acted as the sole financial advisor to Indorama Ventures.

Indorama Ventures Public Company Limited, listed in Thailand is a leading integrated producer in the polyester value chain with strong global network and manufacturing across Asia, Europe and North America. Its products serve major branded players in diversified end use markets, including food, beverages, personal and home care, health care, automotives, textile, and industrial.

The company's main products are PTA, PET, Polymers and Polyester fibres, which are manufactured and distributed across the world. IVL has approximately 3,500 employees worldwide and annual consolidated revenue of $2.3 billion in 2009.

Indorama Ventures Public Company Limited


Must ReadView All

Chinese firm sets up textile-garment chain in Vietnam

Apparel/Garments | On 13th Dec 2017

Chinese firm sets up textile-garment chain in Vietnam

Worldon Vietnam Co. Ltd under the Chinese Shenzhou Group is likely to ...

Courtesy: SATO Global Solutions

Information Technology | On 13th Dec 2017

Sensor networks improve inventory management

Sensor networks like radio frequency identification (RFID) and smart...

CMAI hails review of FTP as 'progressive package'

Apparel/Garments | On 13th Dec 2017

CMAI hails review of FTP as 'progressive package'

The Clothing Manufacturers' Association of India (CMAI) has hailed...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Igor Chapurin
Chapurin

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Bani Batra

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

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

December 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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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