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

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Jacobs receives contract from Jubail Chemical in Saudi Arabia

PASADENA, US:Jacobs Engineering Group Inc received a contract from the Jubail Chemical Industrial Company Ltd (JANA) to provide technical and project ...

Read more
Materia to start catalyst plant in Singapore

  PASADENA, US: Materia said it plans to build a catalyst manufacturing and R&D facility in Singapore. The company expects to complete the ...

Read more
BASF opens new polyurethane system house in Dubai

LUDWIGSHAFEN, GERMANY: BASF opened its new polyurethane (PU) solutions system House in Dubai. “This investment further emphasizes the signific ...

Read more
DuPont records 27 pc net income increase on higher volumes and pricing

DuPont’s first quarter 2011 earnings were $ 1.52 per share, compared to $ 1.24 per share in the prior year, despite a pharmaceuticals earnings ...

Read more
Evonik sets up first project house in Taiwan

  Evonik Industries intensifies research in Asia Focus on light & electronics Strategic step aimed at consolidating global position ...

Read more
AGC to increase chlor-alkali capacity by 30 per cent in Indonesia

TOKYO, JAPAN: Asahi Glass Company Ltd (AGC) announced it is investing about 5 billion yen to expand the electrolysis capacity for production of chlor- ...

Read more