PETpla.net Insider 06+07 / 2014

NEWS 11 PET planet insider Vol. 15 Resilux reports growth Resilux N.V., the manufacturer of PET pre- forms and bottles, reports that the sold volumes of preforms and bottles in the first four months of 2014 have increased by more than 7% compared to the same period in 2013. The growth occurred in all regions. The strongest increase in sold volumes was in Russia, East and Central Europe and the USA. According to the company, the growth is a result of further diversifi- cation of customers and products. For the full year 2014, Resilux expects to realise an operational cashflow at least in line with 2013 and an improvement of the results of the joint venture Airolux. The implementa- tion of the capital expen- ditures budget for 2014 is said to be proceeding according to plan. www.resilux.com Indorama: first quarter profit Indorama Ventures Public Company Limited (IVL), the vertically integrated polyester value chain producer, saw in the first quarter of 2014 total revenues of Thai Baht (THB) 61.6 billion, a solid 11% rise over the same period in 2013, with Core EBITDA growing 83% to THB 5.1billion. Sales growth through higher volumes was achieved, although rapidly falling feedstock prices led to the weaker absolute prices of the commodity PET and polyester products. IVL incurred a non-cash inventory loss of US$33 million in 1Q 2014 reversing a non-cash gain of $11 million in the same quarter last year. The HVA and the Asian Commodity businesses had significantly higher core EBITDA which grew to US$56 mil- lion and US$25 million respectively in 1Q2014, an increase of 63% and 86% over 1Q 2013. Western Commod- ity business results were steady during this period at a healthy rate. The Asian PTA busi- ness continues to remain subdued, but improved production volumes in EO/ EG and strong Purified eth- ylene oxide (PEO) margins drove the performance of the feedstock segment upward to a core EBITDA of US$55 million, compared to US$36 million in the same period of 2013. Despite Asian PTA overcapacity, the company is optimistic that there will be gradual margin improvement in 2014 as industry rationalisation has com- menced and more producer discipline is expected. The company’s nascent PET packaging business in Nigeria has drawn greater volumes of PET resin and the company’s entry into the Ghana market is expected to improve this volume even further. A new packaging facility in the Philippines will assist global branded customers in an underserved yet high demand market. www.indoramaventures.com