Track Record
 
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Profile and Proposal
 
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Information Memorandum: IVL
 
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  What is PET resin or PET?
 
PET, which stands for polyethylene terephthalate, is a form of polyester (just like the clothing fabric). It is extruded or molded into plastic bottles and containers for packaging foods and beverages, personal care products, and many other consumer products.

 

Background of the company

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1994IVL commenced business in Thailand in 1994 with Indorama Holdings, which was the first worsted wool yarn producer in Thailand. It is now globally recognized as a major producer of premium worsted wool yarns.

Over the years since 1994, the company has continuously contributed to the Thai economy and to the job security of Thais. Of the company’s 7,996 employees globally, almost 3,260 are employed in Thailand.

1995We entered the petrochemical industry with the establishment of a PET (Polyethylene terephthalate) resin facility in Thailand. The country was chosen due to its excellent infrastructure and access to raw materials. PET is a key material between the petroleum industry and consumer goods companies that make bottles and packaging as well as apparel, footwear and other items used in our daily lives. IVL has now grown to be the largest PET producer globally.

1996We grew our PET business downstream by producing PET preforms, bottles and closures or bottle tops, through a joint venture with Serm Suk Pcl, the exclusive bottler for Pepsi products in Thailand.

1997IVL entered the polyester business in 1997 with the acquisition of Indo Poly, a polyester fiber plant in Thailand, eventually becoming the largest polyester fiber producer in Thailand.

2003The company expanded PET production internationally with StarPet in the USA

2006IVL expanded into Europe with Orion Global PET in Lithuania

2008The company entered into the PTA business in 2008 with IRH Rotterdam, Indorama Petrochem and TPT Petrochemicals. PTA (purified terephthalic acid) is a feedstock for PET and polyester.

We acquired Tuntex Thailand, the largest polyester fiber producer in the country.

Later, IVL acquired two PET resin facilities from the Eastman Chemical Company in Europe.

2009IVL completed construction of AlphaPet in Alabama, USA.

2010In 2010, Indorama Ventures launched its new business plan for the next four years, called Aspiration 2014. The plan calls for a tripling of total production capacity by 2014 to 10 million tonnes. We acquired a business in Italy through a joint venture and a utilities company to power our Rotterdam plant.

2011IVL’s subsidiary – PT Indorama Ventures Indonesia (formerly PT SK Keris) agreed to set up a new 300,000 tons per annum Continuous Polymerization resin Plant in Purwakarta, Indonesia. The output from this plant will cater to the growing demand of the Polyester Fiber, Yarn and Chips market in Indonesia and Asian Region. The plant is expected to commercially start operation in Q1, 2013.

IVL announced the location of the Brownfiled expansion of PET polymers production in Europe with a capacity 220,000 tons per annum. The aforesaid expansion will be at the existing site of our PET polymer plant in Poland under Indorama Polymers Poland S.p.z.o.o. This expansion is expected to be completed by end of 2013.

IVL board approved a Brownfield expansion of PTA production at the site of its existing plant, owned and operated by its subsidiary Indorama Holdings Rotterdam BV. It will add new production line with an annual capacity of PTA of 250,000 tins per annum thus bringing the total capacity at the site to 600,000 tons per annum.

IVL board approved the acquisition of a 50% stake by IVL through its subsidiary Indorama Netherlands B.V. in PT Polyprima Karyesreska, a PTA producer located in Cilegon, West Java, Indonesia. After restructuring, IVL is expected to hold 41% of the company.

IVL acquired the Polyester Staple Fiber, Specialty Filament business of Trevira Holding GmbH of Germany having operations in Germany and Poland. The company has several valuable patents and technologies together with a strong R&D setup with substantial accumulated research knowledge.

IVL invested in high quality bi-component yarns, FINNE at its recently acquired IVI plant (formerly SK Keris) in Tangerang, Indonesia, with capacity of 16,000 tons per annum. IVI owns unique technology to make Bi-component yarns (known as FINNE) through a single step process. The project is targeted to commence operations by the first quarter of 2013.

IVL invested in bi-component fibers project for Hygiene Applications with capacity of 16,000 tons per annum. The project will be located in Rayong, Thailand and targeted to commence operations by the fourth quarter of 2012.

IVL has successfully completed its maiden THB 7.5 bn. debenture issue, comprising of three tranches of five, seven and ten years. The Thai Baht bond, rated A+ by Thailand’s TRIS rating.

IVL acquired 100% stake in the recycle and fiber manufacturing businesses of Wellman International in Europe.

2012IVL acquired 100% of FiberVisions Holdings LLC. It is one of the world’s largest manufacturer of Polyolefin fiber. Its products are used by customers to make non-woven items including feminine hygiene, geosynthetic materials and apparel for instance. FiberVisions has facilities in the USA, Europe and China as well as a joint venture in Japan.

IVL acquired Polypet in Indonesia and Beverage Plastics in the UK. In April 2012, IVL announced the acquisition of Old World, the largest single Ethylene Oxide (EO) and Ethylene Glycol (EG) production facility in the U.S. located in Clear Lake, Texas near Houston.

IVL has successfully completed its second debenture issue to raise Baht 9.4 billion that will assist the company to pursue future growth.