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Background of the Company
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.
We entered the petrochemical industry with the establishment of a PET (Polyethylene terephthalate) resin facility in Thailand.
We 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.
We 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.
The company expanded PET production internationally with StarPet in the USA
Indorama Polymers (IRP) was listed on the Stock Exchange of Thailand.
We expanded into Europe with Orion Global PET in Lithuania.
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.
IVL completed construction of AlphaPet in Alabama, USA. In this year the company name Indorama Ventures was used for the whole group.
Indorama Ventures listed on the Stock Exchange of Thailand and delisted IRP. We acquired a business in Italy called Ottana through a joint venture.
In January 2011, IVL started with the first acquisition in China through Guangdong IVL PET Polymer in Kaiping City, Guangdong Province. In the same year:

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 16,000 tons per annum in Thailand.

IVL acquired 100% stake in the recycle and fiber manufacturing businesses of Wellman International in Europe.
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.
IVL board approved the acquisition of a packaging company in Nigeria, Africa with a capacity 180 million preforms per annum.
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.
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. 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.
IVL completed the acquisition of 100% of the PX, PTA and NDC (naphthalene dicarboxylate) assets of BP Amoco Chemical Company (BP) at Decatur, Alabama. The acquisition is situated adjacent to the company’s AlphaPet PET plant and has been its main supplier of PTA since the factory was commissioned in 2009. This acquisition is a major coup for the company as it brings us competitive feedstock security with scale advantages, technology ownership and innovative products.

IVL completed the acquisition of 100% of the Purified Isopthalic Acid, Polyethylene Terephthalate (PET and Purified Terephthalic Acid (PTA) assets of Cepsa Química S.A., a subsidiary of Compañía Española de Petróleos S.A.U. (“CEPSA") in Guadarranque-San Roque, Cadiz, Spain. The acquisition makes Indorama Ventures a world-leading producer of Isopthalic Acid, a key chemical additive in the manufacture of PET for packaging as well as consolidating our strategy in Europe.

IVL completed joint venture of its PET Company, Micro Polypet Private Limited (MicroPet), in India with Dhunseri Petrochem Ltd. (Dhunseri). The company has acquired a 50% stake in Dhunseri’s PET Company in India, Dhunseri Petglobal Ltd. By combining the two companies as equal partners, the resulting total capacity of 700,000 tonnes per annum will make the new joint venture the second largest in India.
IVL announced the acquisition of Glanzstoff Group, a major European manufacturer of tire cord fabrics and single-end-cords (SEC) for high performance tire applications. Glanzstoff offers a broad range of solutions in the tire cord fabrics and single-end-cords in high performance rayon, aramid, Nylon 6.6 and polyester in addition to hybrid filament yarns for the high growth and high performance automotive applications. The Group is Europe’s largest converter for tire cord fabrics and a global leader in SEC and is vertically integrated into high tenacity Rayon technology. The manufacturing sites are located in Luxembourg, Italy and the Czech Republic.

In August 2017, IVL has entered into an agreement to acquire DuraFiber Technologies México Operations, S. A. DE C. V. (DFT), a leading Mexican producer of durable technical textiles for industrial, tire reinforcement, and specialty applications globally.

IVL announces the acquisition of Artlant PTA, S.A., which operates a PTA plant in Sines, Portugal. IVL will also acquire the assets of Artelia Ambiante, S.A., an adjacent utilities provider, which will provide a direct benefit by securing the energy supply to Artlant with excess power sold to the grid.