Indorama reports growth in sales and profit

By Gurdip Singh
Correspondent

Published: February 23, 2012 6:00 am ET

Related to this story

Topics Materials, Mergers & Acquisitions, Suppliers, Sustainability, Recycling

BANGKOK (Feb. 23, 12:50 p.m. ET) — Indorama Ventures Public Co. Ltd. said it sustained high performance in 2011 despite challenges, thanks to the addition of key specialty products to its portfolio.

IVL reported sales of US$6.1 billion for 2011, approximately double its 2010 consolidated sales of US$3.055 billion.

Net profit rose 55 percent to US$510 million from US$328 million in 2010.

After excluding extraordinary items, IVL achieved a net profit of US$297 million, 38 percent higher than the US$215 million in 2010.

IVL achieved impressive annual volume growth despite natural disasters that impacted its manufacturing plants — flooding in Thailand and a tornado in Alabama.

Polyester continues its steady growth due to its affordability, recyclability, and versatility as a packaging and textile material, according to IVL.

After a slow fourth quarter, all of its business segments are seeing resilient consumer demand in all markets, leading to high manufacturing utilization rates and lower operating cost, IVL said.

The company acquired Wellman International in 2011, making it the largest recycler in Europe. The company plans to implement recycling projects in the United States and Thailand.


Comments

Indorama reports growth in sales and profit

By Gurdip Singh
Correspondent

Published: February 23, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Optical disc molder OEM getting into micromolding with acquisition of CDA

August 29, 2014 11:24 am ET

Optical disc replicator and molder Optical Experts Manufacturing Inc. of Charlotte, N.C., has expanded its core business and entered new high...    More

Image

EPA fines RI polymer company

August 29, 2014 1:20 pm ET

A Rhode Island polymer manufacturer has reached a $60,000 settlement with the U.S. Environmental Protection Agency (EPA) for violating federal clean...    More

Image

Haitian's standardization efforts paying off

August 29, 2014 9:53 am ET

Streamlined design efforts and robust export sales helped propel Ningbo, China-based injection molding machine manufacturer Haitian International...    More

Image

Updating a travel icon for the professional millennial

August 29, 2014 11:44 am ET

As part of a drive to expand its customer base to include more millennials, Airstream Inc. turned to the Columbus College of Art & Design's...    More

Image

American Starlinger-Sahm begins work on new US headquarters

August 29, 2014 10:18 am ET

American Starlinger-Sahm Inc., which sells equipment for woven plastic bag production, PET recycling equipment, sheet extrusion and laminating lines a...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events