- 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 http://indoramaventures.cloud.21impact.com/en/home
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
USA, Mexico, Canada
Asia: Thailand, Indonesia, China, India, the Philippines, Myanmar
Tel: +662.661.6661 ext. 680
Tel: +662.661.6661 ext. 247