Indorama completes Polypet deal

By Gurdip Singh
Correspondent

Published: August 14, 2012 6:00 am ET

Related to this story

Topics Materials, Mergers & Acquisitions, Suppliers

BANGKOK (Aug 14, 12:45 p.m. ET) — Indorama Ventures Public Co. Ltd. (IVL) has completed the acquisition of the PET assets of PT Polypet Karyapersada in Indonesia.

The deal, first announced in March, provides IVL with 100,800 metric tons of PET capacity adjacent to the purified terephthalic acid assets of PT Indorama Petrochemicals (formerly known as PT Polyprima Karyesreska) at Cilegon, West Java, which IVL acquired under a joint venture in 2011.

Indorama Ventures Group CEO Aloke Lohia said, "Indorama Ventures has pursued an integration strategy of our PET and PTA businesses in Thailand, Italy (under a joint venture) and the Netherlands and earlier announced upstream integration into MEG [monoethylene glycol] in North America. The acquisition of PT Polypet Karyapersada creates synergies due to it being co-sited with our PTA plant PT Indorama Petrochemicals in Indonesia, making it a strategic investment in the most populous country in ASEAN.”

He added: “We are very pleased to be participating in the strong growth of Indonesia. The country is a very attractive market for long term investment and the Polypet deal will allow us to keep pace with and serve the growth of our major customers in the country.”


Comments

Indorama completes Polypet deal

By Gurdip Singh
Correspondent

Published: August 14, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

McCann expanding in Ohio

December 17, 2014 11:59 am ET

Compounding firm McCann Plastics will spend $1.2 million on an expansion project that will create 15 new jobs at its plant in Green, Ohio.    More

Image

Ecojug trims HDPE from milk jugs

December 17, 2014 8:57 am ET

United Diary Inc. has saved 1.7 million pounds of high density polythylene during the production of 80 million of its new Ecojug milk jug design...    More

Image

Amcor unveils hot-fill PET jars that accept metal lug closures

December 17, 2014 8:47 am ET

Amcor Rigid Plastics has developed hot-fill PET jars that accept metal lug closures — which the company claims is a first for food packaging.    More

Image

Heritage Bag adds Gloucester equipment

December 17, 2014 6:00 am ET

Heritage Bag Co. has purchased six bag-making machines from Gloucester Engineering Co. for its new headquarters factory in Roanoke, Texas, which also ...    More

Image

PS foam sheet line features tandem extruders

December 17, 2014 6:00 am ET

Macro Engineering & Technology Inc. if Mississauga, Ontario, has introduced a high-output polystyrene foam sheet extrusion line that has an output up ...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

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

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

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

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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events