Home / Knowledge / News / Textiles / Indorama to expand production capacity
Indorama to expand production capacity
08
Apr '11
Indorama Ventures board on 5 April 2011 has approved a Brownfield expansion of PET polymers production in Europe with a capacity increase of 220,000 tons per year.

This expansion, completion expected in 2013, will increase the total capacity of IVL in Europe to 1,300,000 tons per year of PET Polymers with 5 locations strategically placed to serve all countries in EU competitively. In addition, IVL has 2 PTA plants in Europe, located at Rotterdam, Netherlands and Ottana, Italy respectively. The company had earlier announced on 7 February 2011 entering into a binding agreement to acquire Trevira GMBH, the globally renowned branded Polyester company in Germany.

The decision to grow was motivated by the supply/demand dynamics within EU and the need for competitive assets to better serve the customers. Indorama has been in the forefront of investing in new, state of art, production across the world and believes that it is important to continue to renew assets to remain competitive and thereby create value to all stakeholders. The last time a new plant was built in EU was also by Indorama, back in 2006 in Lithuania, and to date this remains the largest single line in EU. IVL also identified the benefits of a "brownfield" expansion at this time as being more cost effective solution than developing a "new greenfield" site.

Aloke Lohia, Group CEO of Indorama Ventures expressed gratitude to the group's management for their foresight in identifying opportunities in the fast-growing consumer led markets for PET (polyethylene terephthalate). He comments:

"Europe is going through a challenging period and investments at this stage are not without risks; however I believe that Indorama Ventures can only succeed in our mission to be the partner of choice to our customers and suppliers due to a business model employed that is both competitive as well as sustainable. Our latest Brownfield expansion of 220,000 tons is going to be at a highly cost competitive capex as well as operate at the lowest operational cost by being able to leverage on existing infrastructure and close proximity to key raw materials."

"Polyester fibres and yarns, PET polymers and PTA are growing at unprecedented levels and as a consequence, I am very encouraged with the synergy we experience now with the recently acquired business's in the US, Mexico, China, Indonesia and Poland. I am excited that the IVL business stays on track to maintain its growth momentum," said Mr. Lohia.

"Ensuring value accretive investments are the hallmark of our company and we intend each site to be a showcase of our ability to serve competitive markets while creating value," he added.

Indorama Ventures Public Company Limited

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Jurgen Gauger
Spreadshirt

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

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


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



X