Reports to the Stock Exchange
Report on the Completion of Acquisition in USA and Mexico and the Establishment Sub Company
Acquisition and disposition of assets
Ref.No.IVL003/03/2011
02 March 2011
President
The Stock Exchange of Thailand
Subject: Report on the Completion of the Acquisition of Assets and
Businesses in USA and Mexico and the Establishment of New
Subsidiary Companies.
With reference to the disclosure made by Indorama Ventures Public Company
Limited ("IVL") on November 23, 2010 regarding the acquisition of Polyester
Resin and Polyester Staple assets in Spartanburg, South Carolina, USA, and
Polyester Resin and Polyester Staple businesses in Queretaro, Mexico from
Invista S.a.r.l. IVL would like to inform that it has completed all the closing
formalities and has taken charge of the plant effective on March 01, 2011.
After adjustment of working capital at closing the final consideration value for
both USA assets and Mexico businesses is USD 457.78 Million.
The USA assets will be held by the newly formed subsidiary in USA - "Auriga
Polymers Inc." The details of the new subsidiary are as follows:
1. Company Name: Auriga Polymers Inc.
2. Initial Registered Capital: USD 30 Million
3. Shareholding: 100%
4. Business Manufacture of Polyester Resin and Polyester Staple
Fiber with the annual capacity of 470,000 Mts.
The Mexico businesses will be held by the newly formed subsidiary in Mexico
-"IVL Holding S.de.R.L.de.C.V." The details of the new subsidiary are as
follows:
1. Company Name: IVL Holding S.de.R.L.de.C.V.
2. Initial Registered Capital: USD 109 Million
3. Shareholding: 100%
4. Businesses: Manufacture of Polyester
Resin and Polyester Staple Fiber with the annual capacity of
535,000 Mts.
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary
______________________________________________________________________
Ref.No.IVL003/03/2011
02 March 2011
President
The Stock Exchange of Thailand
Subject: Report on the Completion of the Acquisition of Assets and
Businesses in USA and Mexico and the Establishment of New
Subsidiary Companies.
With reference to the disclosure made by Indorama Ventures Public Company
Limited ("IVL") on November 23, 2010 regarding the acquisition of Polyester
Resin and Polyester Staple assets in Spartanburg, South Carolina, USA, and
Polyester Resin and Polyester Staple businesses in Queretaro, Mexico from
Invista S.a.r.l. IVL would like to inform that it has completed all the closing
formalities and has taken charge of the plant effective on March 01, 2011.
After adjustment of working capital at closing the final consideration value for
both USA assets and Mexico businesses is USD 457.78 Million.
The USA assets will be held by the newly formed subsidiary in USA - "Auriga
Polymers Inc." The details of the new subsidiary are as follows:
1. Company Name: Auriga Polymers Inc.
2. Initial Registered Capital: USD 30 Million
3. Shareholding: 100%
4. Business Manufacture of Polyester Resin and Polyester Staple
Fiber with the annual capacity of 470,000 Mts.
The Mexico businesses will be held by the newly formed subsidiary in Mexico
-"IVL Holding S.de.R.L.de.C.V." The details of the new subsidiary are as
follows:
1. Company Name: IVL Holding S.de.R.L.de.C.V.
2. Initial Registered Capital: USD 109 Million
3. Shareholding: 100%
4. Businesses: Manufacture of Polyester
Resin and Polyester Staple Fiber with the annual capacity of
535,000 Mts.
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary
______________________________________________________________________