APIC ’12: Thailand’s Indorama to halt acquisition spree

18 May 2012 09:11  [Source: ICIS news]

KUALA LUMPUR (ICIS)--Thailand-based Indorama Ventures Ltd (IVL) is not planning to make any more acquisitions, a senior executive said on Friday.

“We are in consolidation phase now. We don’t plan to make any more acquisitions,” said D K Agarwal, CEO of Indorama Polymers, an IVL subsidiary.

He spoke to ICIS on the sidelines of the Asia Petrochemical Industry Conference (APIC) in Kuala Lumpur.

IVL completed its $795m (€628m) buyout of US EO/EG producer Old World Industries on 1 April.

That acquisition followed a series of deals in the past two years.

These include the polyethylene terephthalate (PET) assets of Indonesia-based Polypet Karyapersada, US-based polypropylene (PP) fibres producer FiberVisions, US-based producer Wellman’s European PET recycling business, and a 50% stake in Indonesia-based PET producer Polyprima.

It also includes Indonesia-based PET producer SK Keris, a 75% stake in Germany-based polyester producer Trevira, Poland-based SK Eurochem, US PET producer Invista’s US and Mexico PET assets and Italy-based PET producer Equipolymers.

($1 = €0.79)

By: Joseph Chang
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index