Bangkok, Thailand – 5 March 2019 – Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced the completion of its acquisition of INVISTA Resins & Fibers GmbH, a specialty chemicals asset located in Gersthofen, Germany. The Gersthofen site has a combined capacity of 282,000 tonnes/ annum, and employs approximately 140 employees.
Indorama Ventures had previously announced its agreement to acquire INVISTA Resins & Fibers GmbH on 20 December 2018. This acquisition is aligned with IVL’s strategy to grow and support our customer’s needs with differentiated solutions in both packaging and in industrial fibers. It provides IVL with competitive advantages, obtaining the intellectual property rights of POLYSHIELD® PET and OXYCLEAR® Barrier PET, Invista’s barrier technology, in all markets globally. POLYSHIELD® PET and OXYCLEAR® Barrier PET brands are known for their oxygen barrier packaging, mainly used by the food and beverage industry, to extend the shelf life of juice, wine, beer, diary as well as ketchup.
IVL currently has a leading market share in the North America oxygen barrier PET market. The Company made its debut in this segment in 2011 through the acquisition of Auriga Polymers in South Carolina, USA, acquiring the rights to the technology for creating the Crystal Clear Oxygen Barrier Resin in certain markets in the Americas. This acquisition gives IVL added momentum to address a growing demand for barrier resins, and reach both existing and new customers globally.
Mr. Aloke Lohia, Group CEO of Indorama Ventures said, "This is an exciting step forward that will lead us to further accelerate our transformation. We are ready to seize global opportunities and create the greatest value for our customers and shareholders.
We are excited to welcome the Invista team to the IVL family, and look forward to growing the POLYSHIELD® PET and OXYCLEAR® Barrier PET brands to their full potential."
# # #
About Indorama Ventures
Indorama Ventures Public Company Limited, 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 Americas. The company’s portfolio comprises Integrated PET, Olefins, Fibers, Packaging and Specialty Chemicals. Indorama Ventures products serve major FMCG and Automotive sectors, i.e. Beverages, Hygiene, Personal Care, Tire and Safety segments. Indorama Ventures has approx. 17,000 employees worldwide and consolidated revenue of US$ 10.7 billion in 2018. The Company is listed in the Dow Jones Sustainability Index (DJSI).
Indorama Ventures 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, Portugal, Israel, Egypt, Russia, Slovakia, Austria|
|Americas:||USA, Mexico, Canada, Brazil|
|Asia:||Thailand, Indonesia, China, India, the Philippines, Myanmar|
Tel: +662.661.6661 ext. 680
Tel: +662.661.6661 ext. 247
This document contains "forward-looking statements" about the financial condition and results of operations of Indorama Ventures Public Company Limited (the "Company"), which are based on management’s current beliefs, assumptions, expectations and projections about future economic performance and events, considering the information currently available to the management. Any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "plans", "could", "should, "predicts", "projects", "estimates", "foresees" or similar expressions or the negative thereof, identify or signal the presence of forward-looking statements as well as predictions, projections and forecasts of the economy or economic trends of the markets, which are not necessarily indicative of the future or likely performance of the Company. Results given here are "Core", which means excluding inventory gain/losses and one-time extraordinary items
# # #