Indorama Ventures increase European PET capacity

Indorama Ventures to increase European PET capacity

10:52 AM, 14th June 2011
Indorama Ventures to increase European PET capacity
Aloke Lohia, CEO, Indorama Ventures.

BANGKOK, THAILAND: Indorama Ventures plans a Brownfield expansion of PET polymers production in Europe with a capacity increase of 220,000 ton per year. To be completed in 2013, the expansion will increase the total capacity of IVL in Europe to 1,300,000 tons per year of PET polymers with five locations strategically placed to serve EU competitively. The company had earlier announced on 7 February 2011, it will acquire Trevira GMBH, the globally renowned branded polyester company in Germany.


The decision to grow was motivated by the supply/demand dynamics within EU and the need for competitive assets. The company has identified opportunities in the fast-growing consumer led markets for polyethylene terephthalate (PET). IVL also identified the benefits of a “brownfield” expansion at this time as being more cost effective solution than developing a “new greenfield” site.


“Europe is going through a challenging period, however I believe that Indorama Ventures can succeed due to a business model employed that is both competitive as well as sustainable. Our latest Brownfield expansion of 220,000 tons is going to be at a highly cost competitive capex as well as operate at the lowest operational cost by being able to leverage on existing infrastructure and close proximity to key raw materials,” said Aloke Lohia, CEO, Indorama Ventures.


Polyester fibres and yarns, PET polymers and PTA are growing at unprecedented levels and the company expects good synergy with the recently acquired business’s in the US, Mexico, China, Indonesia and Poland, IVL informed.

(C) WOC News



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