Indorama buys PET assets in Indonesia

By Gurdip Singh
Correspondent

Published: March 6, 2012 6:00 am ET

Related to this story

Topics Materials, Mergers & Acquisitions, Suppliers

BANGKOK (March 6, 2:35 p.m. ET) — Indorama Ventures Public Co. Ltd. has agreed to buy 100 percent of the PET assets of PT Polypet Karyapersada in Indonesia.

The assets, with capacity of 100,800 metric tons of PET per year, are situated adjacent to the purified terephthalic acid assets of PT Indorama Petrochemicals (formerly known as PT Polyprima Karyesreska) at Cilegon, West Java, which Indorama acquired last year.

Approximately half of Polypet's output today is for the Indonesian market, Indorama said in a news release.

Indorama expects to close the deal in the second quarter of this year.

“The synergies created by integrating the two plants will lower costs through shared services and logistic cost saving and will be accretive to the bottom line,” said Indorama CEO Aloke Lohia.

“Indonesia is a fast-growing market for our customers with an attractive potential for future growth. Low energy and other costs make this a very attractive place for long term investment,” he said.


Comments

Indorama buys PET assets in Indonesia

By Gurdip Singh
Correspondent

Published: March 6, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Medical compounder adding two extrusion lines

February 25, 2015 3:49 pm ET

Compounding Solutions LLC plans to add two new co-rotating twin-screw extruders this year to raise its capacity and provide more flexibility.    More

Image

Amut buys Dolci and Bielloni

February 25, 2015 3:41 pm ET

Amut SpA, the Novara, Italy-based maker of extruders, thermoforming machines and plastics recycling equipment, has acquired the Italian company that...    More

Image

Tekni-Plex buying Galazzi pharmaceutical film and tape units

February 25, 2015 3:13 pm ET

Italy's Tekni-Plex Europe NV, a subsidiary of U.S.-based Tekni-Plex Inc., has announced that its plan to acquire Gallazzi SpA's Italian-based...    More

Image

Extrusion equipment makers adapting to market demands

February 25, 2015 2:11 pm ET

Extrusion equipment suppliers strive to meet new needs of the marketplace. While they continue upgrading speed, output and quality, they're also...    More

Image

Blow molding equipment makers turn up the efficiency

February 25, 2015 2:08 pm ET

Coming off a year of overall stable sales in 2014, blow molding equipment suppliers are looking for some growth coming from the packaging, automotive ...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events