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

Image

'Thermoforming has nearly limitless possibilities'

April 18, 2014 12:54 pm ET

Julie McAlindon of PolyOne Corp. speaks about the future of thermoforming and the integration of Spartech Corp.    More

Image

Ascend targets nylon for auto applications, opening propylene monomer unit in Texas

April 18, 2014 10:57 am ET

Materials firm Ascend Performance Materials Inc. is in full operation at its new nylon 6/6 compounding line in Florida and will break ground by the...    More

Dutch company launching $100 million PP, PE recycling plant

April 18, 2014 10:42 am ET

Quality Circular Polymers is building a new plastics recycling operation in Geleen, the Netherlands' Chemelot industrial chemical site, with a...    More

Lumena suspends trading, delays report amid claims of 'misrepresenting' financials

April 18, 2014 10:19 am ET

China Lumena New Materials Corp., which says it has the world's largest manufacturing capacity for polyphenylene sulfide resin, has suspended its...    More

PolyQuest spins off FiberQuest unit

April 18, 2014 10:14 am ET

PolyQuest Inc. has spun off its FiberQuest unit — which distributes polyester staple fibers and cotton — as a separate company.    More

Market Reports

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

Automotive Market Review and Outlook 2014 The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

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