BANGKOK, Thailand — May 11, 2015 — Indorama Ventures Public Co. Ltd. (IVL), a producer of intermediate petrochemicals, is pleased to announce that is has successfully concluded the acquisition of Bangkok Polyester PCL in Rayong, Thailand. The acquisition raises Indorama Ventures polyester (PET) capacity share in Thailand from 43 to 58 percent.
Bangkok Polyester is a significant exporter of PET to Japan, which is currently the world’s largest importer of PET, and enjoys zero import duties from Thailand. The acquisition will increase the Indorama Ventures’ market share in an important regional territory. The acquisition of Bangkok Polyester is in line with the company’s strategy of vertical integration as it is located close to the company’s PTA facilities in Rayong and therefore improves the overall cost synergies and supply chain of the company.
Group CEO Aloke Lohia said: “This acquisition is of significant synergistic value to us and will further allow us to work even more closely with customers in Thailand and in Japan. Our multiple sites in Thailand as well as in the region with a full portfolio of regular and differentiated PET offers us a unique positioning and superior risk mitigation. I can assure all our customers that they can expect to continue receiving the highest quality of service and reliability.
“Our continued investment into Thailand reflects our commitment to the Thai economy and local employment. We are inheriting a highly professional team and we look forward tremendously to welcoming them onboard,” said Mr. Lohia. “As part of a truly global company, the team can expect to get more growth opportunities and develop both personally and professionally.”
Posted May 12, 2015