Home / Knowledge / News / Textiles / Indorama Ventures subsidiary acquires Bangkok Polyester
Indorama Ventures subsidiary acquires Bangkok Polyester
19
Mar '15
Indorama Ventures said its subsidiary Indorama Petrochem Ltd has signed a definitive share purchase agreement to acquire a 94.91 per cent equity stake in Bangkok Polyester Public Company Limited (BPC).

“BPC is a producer of PET polymers in Rayong, Thailand, with an annual capacity of 105,000 tons,” Thailand based Indorama Ventures, said in a press release.

The value of the acquisition is less than 15 per cent and the total size of transactions in the past 6 months is also less than 15 per cent.

“Hence, this transaction is not subject to disclosure norms as per the regulation concerning the acquisition and disposal of assets of listed companies,” it added.

The transaction, subject to customary approval, is expected to be completed in the second quarter of 2015.

BPC manufactures and markets premium grade PET resins for packaging of food, drinks, cosmetics and medicine to overseas and domestic customers.

BPC was setup in February 1994 with initial registered capital of baht 1,000,000, which was increased to bath 1,235,625,000 within two years.

It became a public limited company in July 2000 and currently, the Company has a registered capital of baht 200,123,560 divided into 20,012,356 common shares at a par value of baht 10 per share.

Indorama Ventures is one of the world’s leading petrochemical producers and a leading global manufacturer of wool yarns.

Indorama Ventures is the largest PET producer globally and also the largest polyester fibre producer in Thailand.

Indorama Ventures is also a world scale manufacturer of purified terephthalic acid (PTA), a key raw material for the production of polyester. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Bangladesh, Sri Lanka may sign FTA soon

Apparel/Garments | On 15th Oct 2018

Bangladesh, Sri Lanka may sign FTA soon

Bangladesh may sign a free trade agreement (FTA) with Sri Lanka as...

China pumps $109 bn into economy amid trade war with US

Textiles | On 15th Oct 2018

China pumps $109 bn into economy amid trade war with US

China has decided to cut the reserve requirement ratios (RRRs) by one ...

Global lingerie market expected to reach $55 bn by 2024

Apparel/Garments | On 15th Oct 2018

Global lingerie market expected to reach $55 bn by 2024

Global lingerie market in 2015 was worth $33 billion and is expected...

Interviews View All

C Kamatchisundaram, Voltas

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Top executives, Fashion houses, India

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Representatives, Textile & apparel industry

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Harsh Shah,

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

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

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search