Indorama Ventures to suspend production at UK site

13 Nov '13

1 min read

Indorama Ventures Public Company Limited (IVL) has reached a decision to suspend production for up to one to two years at its Indorama Polymers Workington site in the United Kingdom as margin performance continues to decline.

While the Company consulted closely with all management and employees at the site to seek possible alternatives, it was formally decided to moth-ball the plant while industry margins remain depressed. All employees are to be offered redundancy compensation and opportunities for redeployment where possible.

The Company will continue to serve its U.K. customers from plants situated in Europe without any interruption of business.

About Indorama Ventures

Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB) is the world’s leading producer in the polyester value chain, with a global footprint and manufacturing across Africa, Asia, Europe and North America. Its products serve major players in consumer staples.

The company’s main products are PTA, PET, Polyester fibers and yarns and Ethylene Oxide/Glycols, which are distributed across the world. IVL has 9,500 employees worldwide.

Indorama Ventures

More Indorama Polymers Public Company Limited News... More Textiles News - United Kingdom...