Reports to the Stock Exchange
the formation of a new subsidiary&the joint venture in EU
Ref.No.IVL 005/06/2010
June 29, 2010
The President
Stock Exchange of Thailand
Subject: To inform on the formation of a new subsidiary "IVL Belgium N.V."
in Europe and update on the joint venture in Europe (please refer
to our disclosure letterRef.No. IVL005/03/2010 dated 25 March 2010
for more information)
IVL would like to announce that the Board of Directors' Meeting No. 5/ 2010
dated June 29, 2010 has passed the following resolutions:
1. To set up a new subsidiary in Belgium, Europe, by the name of "IVL Belgium
N.V." with an authorized capital of Euro 3.06 million, 99% held by Indorama
Ventures PCL,(IVL). This new Belgian subsidiary will be used to hold the
foreign investments of IVL in Europe.
2. To approve the investment of Euro 50,000 by IVL Belgium N.V. in "UAB
Polimeri Europe," ("JV") a new 50:50 joint venture with PC Holding
International S.A.(a subsidiary of PCH S.R.L., Italy) This new JV will
acquire 100% stake in Ottana Polimeri S.R.L, Sardinia in Italy operating a
PTA plant with a capacity of 192,000 tons and a PET plant with a capacity
of 150,000 tons. These assets belonged to Equipolymers Europe.
All formalities will be effected by July 1, 2010.
To calculate the transaction size of the acquisition of the Ottana Polimeri
S.R.L, the highest value is the Net Tangible Assets (NTA) method, by which
the acquisition is less than 15% of IVL's total NTA in accordance with the
Notification of the Board of Governors of the Stock Exchange of Thailand Re:
Disclosure of Information and Other Acts of Listed Companies Concerning the
Acquisition and Disposition of Assets, 2004,and the Notification of the
Capital Market Supervisory Board No. Tor Jor. 20/2008 Re:Rules on Entering
into Material Transaction Deemed as Acquisition or Disposal of
Assets.
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary
June 29, 2010
The President
Stock Exchange of Thailand
Subject: To inform on the formation of a new subsidiary "IVL Belgium N.V."
in Europe and update on the joint venture in Europe (please refer
to our disclosure letterRef.No. IVL005/03/2010 dated 25 March 2010
for more information)
IVL would like to announce that the Board of Directors' Meeting No. 5/ 2010
dated June 29, 2010 has passed the following resolutions:
1. To set up a new subsidiary in Belgium, Europe, by the name of "IVL Belgium
N.V." with an authorized capital of Euro 3.06 million, 99% held by Indorama
Ventures PCL,(IVL). This new Belgian subsidiary will be used to hold the
foreign investments of IVL in Europe.
2. To approve the investment of Euro 50,000 by IVL Belgium N.V. in "UAB
Polimeri Europe," ("JV") a new 50:50 joint venture with PC Holding
International S.A.(a subsidiary of PCH S.R.L., Italy) This new JV will
acquire 100% stake in Ottana Polimeri S.R.L, Sardinia in Italy operating a
PTA plant with a capacity of 192,000 tons and a PET plant with a capacity
of 150,000 tons. These assets belonged to Equipolymers Europe.
All formalities will be effected by July 1, 2010.
To calculate the transaction size of the acquisition of the Ottana Polimeri
S.R.L, the highest value is the Net Tangible Assets (NTA) method, by which
the acquisition is less than 15% of IVL's total NTA in accordance with the
Notification of the Board of Governors of the Stock Exchange of Thailand Re:
Disclosure of Information and Other Acts of Listed Companies Concerning the
Acquisition and Disposition of Assets, 2004,and the Notification of the
Capital Market Supervisory Board No. Tor Jor. 20/2008 Re:Rules on Entering
into Material Transaction Deemed as Acquisition or Disposal of
Assets.
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary