Indorama Ventures completes acquisition of PET and polyester assets of SK Chemicals’ Java plant

08-Mar-11

Indorama Ventures Plc. has completed acquisition of the polyethylene terephthalate (PET) and polyester assets of South Korean-based SK Chemicals in western Java, including a 400,000 sq mtr facility in Tangerang, Banten, which produces PET resin and polyester filament yarns and a 40,840 sq mtr facility in Karawang, West Java, which makes polyester filament yarn. Indorama Ventures CEO Aloka Lohia said the acquisition was an important move for his company to meet growing demand for yarns and fibers in Indonesia, one of the most attractive emerging markets in Southeast Asia.