Thailand-based Indorama Ventures PCL (IVL) — an integrated manufacturer of purified terephthalic acid, polyethylene terephthalate (PET) and polyester fiber — has purchased Korea-based SK Chemicals Co. Ltd.'s assets in Poland and Indonesia and established new subsidiaries.

SK Eurochem Sp. z o.o., Poland, is now held by Indorama Polymers Sp. z o.o., Poland. The company manufactures PET chip and has an annual production capacity of 140,000 metric tons. PT SK Keris and PT SK Fiber, Indonesia, are now held by Indorama Netherlands B.V., the Netherlands, which manufactures PET chip and polyester filament yarn and has an annual capacity of 196,000 metric tons.

In other company news, Indorama has completed the acquisition of Wichita, Kan.-based Invista's PET polymer and resin businesses in Spartanburg and Querétaro, Mexico, and has established new subsidiaries. The Spartanburg business, which has been named Auriga Polymers Inc., manufactures polyester staple fiber and polyester resin and has an annual production capacity of 470,000 metric tons. The Mexico business, which has been named IVL Holding S.de.R.L.de.C.V., also manufactures polyester staple fiber and polyester resin, and has an annual capacity of 535,000 metric tons.

March 15, 2011