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

Techmer PM planning new compounding plant

March 26, 2015 3:30 pm ET

As crowds gathered around their 3-D-printed Shelby Cobra sports car, Techmer PM officials revealed that the firm will open a new materials plant in...    More

Indian compounder Welset expands in PVC, masterbatches

March 26, 2015 6:00 am ET

Indian compounder Welset Plast Extrusions Ltd. (Booth S20059) is spending 60 crore rupees ($975,000) to expand capacity in PVC materials for the...    More

Image

RheTech adding extrusion line

March 26, 2015 9:16 am ET

John Levinson, President of RheTech Inc., which was recently acquired by Swedish rubber compounder Hexpol AB, was positive about the...    More

Image

Sabic adding more Ultem capacity

March 26, 2015 1:24 pm ET

Sabic Innovative Plastics will add more than 700 million pounds of material production capacity in the next five years — including a 30 percent ...    More

Image

DuPont exec: Still lots of lightweighting needed in the auto industry

March 23, 2015 6:00 am ET

In that role, Jeffrey Sternberg is responsible for bringing the breadth of DuPont advanced materials — as well as renewably sourced materials an...    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