Indorama Ventures

From WikiPETia.info

Indorama Ventures
Founded 1994
Headquarters Bangkok, Thailand
Number of locations
62
Number of employees
14,000 (2015)
Website www.indoramaventures.com

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

PETplanet Insider Articles

Issue 07 / 2020: Acquisition of PET recycling facility in Brazil
Issue 05 / 2020: Indorama Ventures aims to recycle 50 billion bottles per year by 2025
Issue 04 / 2020: Indorama Ventures team to grow the PET recycling business
Issue 04 / 2019: Indorama Ventures complete acquisition of Invista Resins & Fibre GmbH
Issue 03 / 2019: Acquisition of packaging buiness in Nigeria
Issue 11 / 2017: Thailand‘s PET giant
Issue 09 / 2016: Indorama Ventures enters long-term agreement with Cepsa
Issue 04 / 2016: IVL acquisition of Cepsa Business in Spain complete
Issue 09 / 2014: Indorama Ventures sees strong year-on-year growth in H1 2014
Issue 06 / 2014: Indorama: first quarter profit
Issue 06 / 2014: Acquisition of Artenius TurkPET
Issue 04 / 2014: Indorama Ventures aquires Sasa in Turkey
Issue 09 / 2013: Indorama reports record sales revenues
Issue 05 / 2013: IVL to build second plant in Alabama
Issue 04 / 2013: IVL reports solid 2012, growth in 2013
Issue 01 / 2013: Indorama reorganises PET production capacity
Issue 10 / 2012: IVL opens up in Africa
Issue 09 / 2012: IVL closes Indonesian PET deal
Issue 07 / 2012: IVL reports increased Q1 sales and revenues
Issue 04 / 2012: IVL captures Old World
Issue 12 / 2011: IVL to aquire Wellman International recycling and fibre business
Issue 10 / 2011: Lithunia Part 1 – Lithunia / Estonia
Issue 04 / 2011: Indorama Ventures approves plans to expand capacity in Europe
Issue 03 / 2011: Indorama aquires Chines assets, Investa N America businesses, looking at India expansion
Issue 03 / 2011: Indorama renames PET resins range
Issue 01 / 2011: New PET silo park for Indorama Polymers Rotterdam
Issue 05 / 2010: New PET facility in Rotterdam
Issue 01 / 2010: Eastman sues Indorama over Integrex PET manufacturing technology

External links

Indorama Ventures Website