Indorama Ventures

Company Profile

Indorama Ventures is headquartered in Bangkok, Thailand and established in 21 countries in four major regions of the world - Asia Pacific, Europe, North America, and Africa. Indorama Ventures' business consists of three key verticals - Feedstock, PET and Fibers and Yarns. In a proactive move towards maximizing its value chain and operational synergies, Indorama Ventures has expanded its PET and Polyester businesses in recent years. Our historical expansions and investments in the polyester value chain have always been undertaken keeping in mind the value creation initiatives of scale, integration, geography, and product mix. With a continual focus on cost and efficiency, Indorama Ventures is now firmly positioned amongst the lowest cost polyester chain producers in the world.

Facts and Figures

• Revenue of 2015: US$6.8 billion
• Employees: 14,000
• Manufacturing sites: 62

Technology

For the production of PET resin and specialty polyester resins, Indorama Ventures is globally making use of a wide range of technologies such as MTR, FTR (Flake to Resin), Meltphase followed by Solid Stating in both batch and continuous processes as well as recycling bales to PET flakes. The product range comprises of the following categories of resin:

• Standard bottle grade with various IV, reheat and non-reheat

• Special grades such as for refillable, hot fillable and barrier bottles

• Oxyclear range of resin and master batches for oxygen and CO2 barrier applications (NA and SA)

• PET for film and sheet and thermoforming trays

• Low IV grades for injection molding

• High IV grades for large containers, strapping, tire cord and C-PET

• Amorphous chips, super bright, bright, semi dull and dull for fiber and yarns

• Resin for Biaxial oriented PET film, base resin and specialty master batches

• Polyester with specialty co-monomer modifications for dedicated markets

• Biobased reheat PET with replaced fossil MEG by Bio-MEG

History

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

1995 The company entered the petrochemical industry with the establishment of a PET (Polyethylene terephthalate) resin facility in Thailand.

1996 Indorama grew their 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.

1997 Indorama 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.

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

2005 Indorama Polymers (IRP) was listed on the Stock Exchange of Thailand.

2006 Expansion into Europe with Orion Global PET in Lithuania.

2008 The 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.

2009 IVL completed construction of AlphaPet in Alabama, USA. In this year the company name Indorama Ventures was used for the whole group.

2010 Indorama Ventures listed on the Stock Exchange of Thailand and delisted IRP. We acquired a business in Italy called Ottana through a joint venture.

2011 In January 2011, IVL started with the first acquisition in China through Guangdong IVL PET Polymer in Kaiping City, Guangdong Province.

IVL acquired the North American polymers assets of Invista in 2011. Auriga Polymers’ operations are in Spartanburg South Carolina with business unit and administrative offices in nearby Charlotte, North Carolina. The plant once belonged to Hoechst AG of Frankfurt, which also once owned Trevira in Germany.

Another part of the North American acquisition from Invista was the Queretaro complex, which was the first filament polyester manufacturing facility for the textile industry in Mexico.

IVL’s subsidiary – PT Indorama Polychem Indonesia set up a new 300,000 tonnes per annum Continuous Polymerization resin Plant in Purwakarta, Indonesia.

IVL announced the location of the Brownfield expansion of PET polymers production at the PET polymer plant in Poland under Indorama Polymers Poland S.p.z.o.o.

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.

IVL acquired the Polyester Staple Fiber, Specialty Filament business of Trevira Holding GmbH of Germany having operations in Germany and Poland.

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.

IVL invested in bi-component fibers project for Hygiene Applications with capacity of 16,000t/a in Thailand.

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

2012 IVL acquired 100% of FiberVisions Holdings LLC. It is one of the world’s largest manufacturers 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. In Nigeria, Africa, IVL constructed a PET plant at Port Harcourt and acquired a small packaging plant.

2013 IVL board approved the acquisition of a packaging company in Nigeria, Africa with a capacity 180 million preforms per annum.

2014 IVL announced the acquisition of PHP Fibers GmbH and its subsidiaries. IVL holds 80% of PHP while the remaining 20% will is held by Toyobo Co., Ltd., a leading Japanese manufacturer of high function products. We acquired 100% of Artenius TurkPET A.S. (“Artenius”) in Adana, Turkey. Artenius is a PET producer with a capacity of 130,000 tons per annum. The company has added new packaging facilities in The Philippine and Ghana in 2014. IVL announced agreement to acquire Performance Fibers in China.

2015 IVL announced agreement to fully acquire the new state-of-the-art PET resin plant, Polyplex Resins Sanayi Ve Ticaret Anonim Sirketi. In Turkey. We acquired 94.91% stake in Bangkok Polyester (“BPC”), Thailand and signed an agreement to acquire 100% shareholding of CEPSA Chimie Montréal s.e.c. in Canada. IVL announced acquisition of 76% stake in an ethylene cracker located in Lake Charles, Louisiana, USA. This acquisition will make IVL the first Thai company to take advantage of the shale gas revolution in America. IVL has signed a share purchase agreement to acquire a 100% stake in the Purified Isopthalic Acid (PIA), Polyethylene Terephthalate (PET) and Purified Terephthalic Acid (PTA) business of Compañía Española de Petróleos S.A.U. (“CEPSA Spain") in Cadiz, Spain from Cepsa Química SA. It has signed a share purchase agreement to acquire a 100% stake in the Polyethylene Terephthalate (PET) business of Micro Polypet Private Limited (MicroPet) and its two subsidiaries Sanchit Polymers Private Ltd and Eternity Infrabuild Private Ltd in India. IVL also has agreed to acquire BP Amoco Chemical’s Decatur, Alabama business, consisting of integrated paraxylene and PTA manufacturing as well as the world’s only commercial plant to manufacture NDC, a specialty chemical used in performance polymers and films for application such as smart phone screens.

References

Market Surveys

PET bottle resins

External links

Indorama Ventures Website