Creating Global Leadership in PET
In just under 15 years, Indorama Holdings developed numerous business segments, becoming Thailand’s first worsted wool yarn producer, a PET manufacturer, and the country’s largest polyester fiber producer. The company also transitioned from operating domestically to global expansion with acquisitions in the United States and Europe, becoming a global PET producer in addition to a sizable player in the PTA business.
- Formation of our joint venture with Serm Suk PCL, the exclusive bottler of Pepsi products in Thailand, boosting growth in Indorama Holdings’ PET downstream business
- Acquisition of Indo Poly, a polyester fiber plant in Thailand, marking our entry into the polyester business, and subsequently becoming the largest polyester fiber producer in Thailand
- Acquisition of StarPet in the United States marking our international expansion in PET production
- Listing of Indorama Polymers (IRP) on the Stock Exchange of Thailand
- Acquisition of Orion Global PET in Lithuania marking our expansion into Europe
Further Integration with PET & Fibers
Indorama Holdings becomes Indorama Ventures Limited and continues with its geographic and operational expansion in Italy, Germany, the Netherlands, Ireland, and Poland in Europe, and establishes a foothold in China’s Guangdong Province with an acquisition of a PET Polymer producer. A fiber project in Thailand and an acquisition in Indonesia further boost capacity for Indorama Ventures in Southeast Asia.
- Construction completed of AlphaPet in the United States.
- Adoption of “Indorama Ventures Limited,” or IVL, for the entire group.
- Delisting of IRP followed by the listing of IVL on the Stock Exchange of Thailand.
- Acquisition of Italys’ Ottana Polimeri through a joint venture.
Adding High Value-Added Verticals - Hygiene, Automotive and Industrials
This four-year period is notable for IVL’s dramatic global expansion and rapid growth with a host of strategic acquisitions that really extend and strengthen production and manufacturing capacity around the world – including the United States, Spain, [other European countries resulting from FiberVisions] China, Japan, Indonesia, the UK, Indonesia, Turkey, Nigeria, the Philippines, Ghana, Canada, Thailand and India.
- Acquisition of Indorama Ventures Packaging (Nigeria).
- Announcement of agreement to acquire Polyplex Resins Sanayi Ve Ticaret Anonim Sirketi, a new resin plant in Turkey.
- Acquisition of Bangkok Polyester PCL in Thailand.
- Agreement signed to acquire CEPSA Chimie Montréal S.E.C. in Canada.
- Acquisition of a 76% stake in an ethylene cracker in Lake Charles, Louisiana making us the first Thai company to tap into the shale gas revolution in the United States.
- Agreement signed to acquire CEPSA Spain’s PIA, PET, and PTA businesses.
- Agreement signed to acquire MicroPet’s PET business.
Creating a World-Class Chemicals Company
Indorama Ventures consolidates its leadership position, as a top global producer of isopthalic acid, having the world’s only plant that manufactures naphthalene dicarboxylate, and completing a joint-venture in India becoming the country’s second-largest PET producer. Additional acquisitions are announced in Europe strengthening our position in PET production in Portugal, in addition to a move into technical yarns, tire cords, and fabrics for the rubber and composite industries.
- Acquisition of BP Amoco’s chemicals business in Decatur, Alabama, consisting of PX and PTA manufacturing as well as the only commercial plant that manufactures NDC in the world.
- Acquisition of the PIA, PET and PTA assets of CEPSA Spain completed. The acquisition makes us a world-leading producer of Isopthalic Acid (PIA), a key chemical additive in the manufacture of PET for packaging as well as consolidating our strategy in Europe.
- Completion of joint venture MicroPet with Dhunseri Petrochem Ltd. in India. The JV company acquires a 50% stake in Dhunseri Petglobal Ltd.
- Acquisition announced of Glanzstoff Group, a major European manufacturer of tire cord fabrics and single-end-cords (SEC) for high performance tire applications. Glanzstoff Group’s manufacturing sites are in Luxembourg, Italy and the Czech Republic
- Acquisition of 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.
- Acquisition of Portugal’s Artlant PTA, S.A. in Sines, Portugal and the assets of Artelia Ambiante, S.A., an adjacent utilities provider which secures the energy supply to Artlant.