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
Companies & Associations

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

Ford moving forward in carbon fiber for 'high volume' use

April 17, 2015 10:21 am ET

Ford Motor Co. has signed a deal with a carbon-fiber manufacturer to jointly explore “high-volume” automotive uses for the lightweight...    More

Image

Force majeure declared at six European sites since mid-March

April 17, 2015 1:10 pm ET

At least six European resin makers have declared force majeure on polyethylene, polypropylene and related products since mid-March, leading to higher ...    More

Image

Executives step down from Star Thermoplastics

April 17, 2015 12:56 pm ET

Executives Randall Fortin and Larry Johnson no longer are with materials firm Star Thermoplastics Alloys & Rubbers Inc.    More

Image

Zoltek expanding CF capacity in Europe

April 17, 2015 10:12 am ET

Leading carbon fiber group Zoltek Corp. has signed a strategic agreement with the Hungarian government to expand its operation in northern Hungary,...    More

Image

Hanwha Azdel adds capacity in Lynchburg

April 16, 2015 2:01 pm ET

Composite maker Hanwha Azdel Inc. will add space and a new production line at its Lynchburg, Va., production facility, the company announced April 16.    More

Market Reports

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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events