Leading polyethylene terephthalate (PET) producer Indorama Polymers Plc (IRP) has estimated company revenues to double next year due to higher production volume of PET products.
Once IRP's 198,000 tpa PET project in Lithuania, scheduled to be operational by April 2006, comes on stream, the company's consolidated production capacity of PET will rise to 508,000 tpa from the current 226,000 tpa. IRP also plans to increase its PET production capacity of StarPet, a wholly-owned US subsidiary of IRP.
Capacity will also get boosted next year by the expansion of Petform, a joint venture with Sermsuk Plc, which will come onstream in the first quarter. Upon completion, the production volume of Petform products will climb to 348 million pieces pa from 244 million pa, while the production volume of closures will increase to 540 million pieces pa from 360 million. The company also plans to expand its existing product range by diversifying into the production of bottles, to the tune of 150 million pieces pa.
When all the production plans come onstream, IRP will become the seventh largest PET manufacturer in the world with a 4% market share.
21-Nov-05 
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