Thailand's Indorama Ventures merges two Poland subsidiaries

05 January 2012 09:26  [Source: ICIS news]

SINGAPORE (ICIS)--Thailand-based Indorama Ventures has merged two of its subsidiaries in Poland into a single entity known as Indorama Ventures Poland, the polyethylene terephthalate (PET) producer said late on Wednesday.

The merger between Indorama Polymers Poland and IVL Poland came into effect in January this year, the company said in a statement.

The merger was aimed at making Indorama Venture’s “holding structure more efficient”, a company spokesman told ICIS.

Indorama Venture’s plan to increase production capacity of PET at its Wloclawek site to 360,000 tonnes/year, from 140,000 tonne/year by 2013 is still on track, he added without giving further details.

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By: Nurluqman Suratman

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