Bangkok, Thailand – 20 November 2019 – Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced it has successfully completed the acquisition of Sinterama S.p.A, a leading Global polyester automotive interiors and high performance colored yarns manufacturer.
This acquisition elevates IVL’s capability to deliver comprehensive and innovative solutions in highly specialized applications including coloured polyester yarns for the automotive, furnishing, apparel and technical applications. The combination of IVL’s existing manufacturing capabilities and supply chain with Sinterama’s industry-leading portfolio gives IVL added momentum to serve the increasing demand for automotive and home applications.
Sinterama has approximately 890 employees working at five production sites in four countries in Italy, Brazil, China and Bulgaria, which is a new market for IVL. Sinterama holds leading positions in highly specialized applications in Europe, with an excellent reputation and proven technology. Sinterama’s expertise and network of strategically located facilities will be integrated into IVL’s existing specialties business, thereby creating the industry partner of choice for high-value polyester yarns.
Mr. Aloke Lohia, Group CEO of Indorama Ventures said,
“We are pleased to complete this acquisition and excited to welcome our new colleagues to the IVL family. The addition of Sinterama bolsters our leadership position and further differentiating our portfolio to ensure that we are well-positioned to support customers today and into the future. We look forward to delivering on the opportunities that this acquisition provides, and building our journey of growth together.”
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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. 20,000 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
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