Indorama Ventures seeks to acquire more polyester plants in BRIC

14-May-10

Indorama Ventures, the world's second largest PET producer, saw a 20% growth in net profits this year following its acquisitions in Europe. The company is keen to acquire more polyester plants in Russia, India, China and Brazil with the expectation of a adding to profits. The company expects to start the new projects in Q3 with funding to finance the projects from the company's internal working capital and bank loans. The three projects, worth Bt2 bln, were acquisition of PTA and PET plants in Italy from Dow Chemical, expansion of the Rotterdam PET plant by 190,000 tpa to total capacity of 390,000 tpa, and energy integration at Rotterdam through the acquisition of a co-located power and utility plant from Air Products.