Indorama reports growth in sales and profit

By Gurdip Singh
Correspondent

Published: February 23, 2012 6:00 am ET

Related to this story

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

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

China's biggest fuel tank maker getting a US foothold

April 23, 2014 4:41 pm ET

The majority owner of China's biggest fuel tank maker is expanding its global automotive footprint with the acquisition of the fuel tank unit of...    More

Image

China's Shide Group, BASF unveil 'revolutionary' all-plastic window profile

April 23, 2014 9:10 pm ET

SHANGHAI — The PVC window profile market in Asia is expected to increase four-fold by 2025, and Chinese building products maker Dalian Shide...    More

Worker dies in fall at Formosa Texas plant

April 23, 2014 4:04 pm ET

A subcontractor died April 22 after falling 25 feet during routine cleaning operations at a Formosa Plastics Corp. USA facility in Point Comfort,...    More

Image

Milliken expanding SC plant for additional PP clarifying agent capacity

April 23, 2014 3:42 pm ET

American chemical company Milliken & Co. has announced plans for a major expansion in capacity for its Millad NX8000 clarifying agent for...    More

Image

CPM Extrusion, ECON launch new line of underwater pelletizers

April 23, 2014 11:25 am ET

CPM Extrusion Group and ECON GmbH unveiled their brand new EUPC line of underwater pelletizers today at ChinaPlas held in Shanghai, China.    More

Market Reports

Market Data Book - Rankings & Lists

A one-stop download of Plastic News' exclusive annual lists and processor rankings containing essential data including sales, employees, end markets, materials and more.
EXCLUSIVE EXCEL FEATURE: full mailing address details for available plant locations.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Mold Making and Tooling Review and Outlook 2014 North America

This report provides in-depth analysis of the mold and toolmaking market for North America, including discussions of trends, opportunities, threats, the latest developments in production and labor and equipment trends impacting moldmakers.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

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

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events