Establishment of new subsidiary companies in US, Indorama

04 Mar '11

1 min read

With reference to the disclosure made by Indorama Ventures Public Company Limited (“IVL”) on November 23, 2010 regarding the acquisition of Polyester Resin and Polyester Staple assets in Spartanburg, South Carolina, USA, and Polyester Resin and Polyester Staple businesses in Queretaro, Mexico from Invista S.a.r.l. IVL would like to inform that it has completed all the closing formalities and has taken charge of the plant effective on March 01, 2011.

After adjustment of working capital at closing the final consideration value for both USA assets and Mexico businesses is USD 457.78 Million.

The USA assets will be held by the newly formed subsidiary in USA - “Auriga Polymers Inc.” The details of the new subsidiary are as follows:

1. Company Name: Auriga Polymers Inc.
2. Initial Registered Capital: USD 30 Million
3. Shareholding: 100% 4. Business Manufacture of Polyester Resin and Polyester Staple Fiber with the annual capacity of 470,000 Mts.

The Mexico businesses will be held by the newly formed subsidiary in Mexico -“IVL
Holding S.de.R.L.de.C.V.” The details of the new subsidiary are as follows:

1. Company Name: IVL Holding S.de.R.L.de.C.V.
2. Initial Registered Capital: USD 109 Million
3. Shareholding: 100% 4. Businesses: Manufacture of Polyester Resin and Polyester Staple Fiber with the annual capacity of 535,000 Mts.

Indorama Ventures Public Company Limited

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