Indorama Ventures PCL : to Acquire Artlant PTA in Portugal Strong PTA position in Europe enhanced
November 08, 2017 at 08:58 pm EST
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Indorama Ventures to Acquire Artlant PTA in Portugal Strong PTA position in Europe enhanced
Creates value potential and positions IVL to continue sustainable growth
Strategic fit with IVL's leadership position in core business
Increases scale of captive supply of PTA to lower cost
Continues to build on successful feedstock integration strategy
Bangkok, Thailand - 9 November 2017 - Indorama Ventures Public Company Limited (IVL), a global chemical producer, will acquire the assets of Artlant PTA, S.A.'s (Artlant), including all equipment, surface rights and employment contracts. Artlant, a Purified Terephthalic Acid (PTA) plant in the Sines Industrial Complex in Portugal is a large PTA producer in Europe with a production capacity of 700,000 tonnes per annum adding substantial scale and enhancing IVL's PTA leadership in Europe. IVL will also acquire the assets of adjacent utilities provider, Artelia Ambiente, S.A. (Artelia), which has a capacity of 40.390 MW of electricity, steam, demineralized water, wastewater treatment and hydrogen. This acquisition will benefit the company by securing energy supply to Artlant and sell excess power to the grid. PTA is used as raw material for PET (Polyester) production. With the Company's plan to grow its core businesses in the future, this feedstock security will be a solid basis for portfolio expansion. IVL expects to reduce cost and increase operational synergies via internal supply of feedstock and replace imports in Europe.
Mr. Aloke Lohia, Group CEO of Indorama Ventures, said, 'Artlant fortifies our core PTA business and is a part of our successful vertical integration strategy. We can apply our scale and operational expertise while taking advantage of cost synergies and capture the opportunity for future growth and expansion.'
'We are confident that Artlant will drive the growth of the polyester business both in Portugal and the rest of Europe. It will support employment opportunities in the region, and help economic growth. I look forward to closing the deal in the fourth quarter of 2017,' Mr. Lohia concluded. More information is available at www.indoramaventures.com
About Indorama Ventures
Indorama Ventures Public Company Limited, a DJSI member, listed in Thailand (Bloomberg ticker IVL.TB), is one of the world's leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia, Europe and North America. The company's portfolio comprises Necessities and High Value-Added (HVA) categories of Polymers, Fibers, and Packaging, selectively integrated with self-manufactured Ethylene Oxide/Glycols and PTA where economical. IVL products serve major FMCG and Automotive sectors, i.e. Beverages, Hygiene, Personal Care, Tire and Safety segments. IVL has approx. 15,000 employees worldwide and consolidated revenue of US$ 7.2 billion in 2016.
IVL is headquartered in Bangkok, Thailand with global operating sites in
EMEA:
The Netherlands, Germany, Ireland, France, UK, Italy, Denmark, Lithuania, Poland, Czech Republic, Luxembourg, Spain, Turkey, Nigeria, Ghana
North America:
USA, Mexico, Canada
Asia:
Thailand, Indonesia, China, India, the Philippines, Myanmar
Contacts For investors: Richard Jones Tel: +662.661.6661 ext. 680 richard.j@indorama.net For media: Naweensuda Krabuanrat Tel: +662.661.6661 ext. 247 naweensuda.k@indorama.net
Indorama Ventures pcl published this content on 09 November 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 November 2017 01:57:08 UTC.
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Indorama Ventures Public Company Limited is a Thailand-based petrochemicals producer. The Company operates through three segments: Combined PET, Integrated Oxides and Derivatives (IO), and Fibers. Its Combine PET segment manufactures and distributes polyethylene terephthalate (PET) value chain comprising Paraxylene (PX), Purified Terephthalic Acid (PTA), PET, and recycling (Integrated PET), PET preforms and packaging and specialty PET-related chemicals comprising PIA and NDC. Its Integrated Oxides and Derivatives segment manufactures and distributes integrated EG, integrated purified EO, PO/MTBE and integrated surfactants comprising EOA, LAB and others. Its Fiber segment manufactures and distributes polyester, rayon, nylon, polypropylene, composites and worsted wool fibers, for mobility, lifestyle and hygiene markets. The Company's products are used in health, personal hygiene, human safety and packaging solutions.