Home / Knowledge / News / Textiles / Establishment of new subsidiary companies in US, Indorama
Establishment of new subsidiary companies in US, Indorama
04
Mar '11
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


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Silke Brand-Kirsch
Schlegel und Partner

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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