Reports to the Stock Exchange
Acquisition of Wellman International's Recycling and Fiber Manufacturing Business
Acquisition and disposition of assets
Ref.No.IVL004/09/2011
21 September 2011
President
The Stock Exchange of Thailand
Subject: Acquisition of Wellman International's Recycling and Fiber
Manufacturing Business.
Indorama Ventures Public Company Limited ("IVL") would like to announce that a
definitive share purchase agreement has been signed on 20th September 2011 with
WIT Beteiligungs GmbH and Wellman International Trading, affiliates of Aurelius
AG ("Seller"), to acquire 100% stake in the recycle and fiber manufacturing
businesses of Wellman International in Europe. The acquisition is expected to be
completed within 2011 subject to necessary regulatory approvals.
The Business has three production facilities in Europe: a polyester fiber plant
based in Mullagh, the Republic of Ireland, with an output of more than 80,000
tons, and recycling plants at Spijk in the Netherlands, with an output of 45,000
tons, and Verdun in France, with an output of 28,000 tons. The plant in Ireland
is capable of converting waste polyester into 100% recycled fiber. Post
consumer recycled Bottles are flaked and processed with other waste material to
produce fibers that can be used in a variety of premium applications, such as in
the hygiene industry.
The target acquisition has the know-how to blend recycled PET (rPET) and
industrial waste and will potentially contribute to make Indorama Ventures a
'zero waste' company" with a low carbon footprint. The acquisition will be in
line with customers' sustainability drive and to meet their demands for more
recycling of post consumer products. This project acquisition will also provide
access to proven recycling technology and the potential for a technology
transfer to the Company's Asian assets with a reduced learning curve.
The value of the above combined acquisition, calculated in accordance with the
regulation of the Capital Market Supervisory Board and the Stock Exchange of
Thailand, is less than 15 percent as prescribed by the regulation of the Stock
Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed
Companies Concerning the Acquisition and Disposition of Assets, 2004 (as
amended).
We will update on completion of the transaction together with its structure.
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary
______________________________________________________________________
Ref.No.IVL004/09/2011
21 September 2011
President
The Stock Exchange of Thailand
Subject: Acquisition of Wellman International's Recycling and Fiber
Manufacturing Business.
Indorama Ventures Public Company Limited ("IVL") would like to announce that a
definitive share purchase agreement has been signed on 20th September 2011 with
WIT Beteiligungs GmbH and Wellman International Trading, affiliates of Aurelius
AG ("Seller"), to acquire 100% stake in the recycle and fiber manufacturing
businesses of Wellman International in Europe. The acquisition is expected to be
completed within 2011 subject to necessary regulatory approvals.
The Business has three production facilities in Europe: a polyester fiber plant
based in Mullagh, the Republic of Ireland, with an output of more than 80,000
tons, and recycling plants at Spijk in the Netherlands, with an output of 45,000
tons, and Verdun in France, with an output of 28,000 tons. The plant in Ireland
is capable of converting waste polyester into 100% recycled fiber. Post
consumer recycled Bottles are flaked and processed with other waste material to
produce fibers that can be used in a variety of premium applications, such as in
the hygiene industry.
The target acquisition has the know-how to blend recycled PET (rPET) and
industrial waste and will potentially contribute to make Indorama Ventures a
'zero waste' company" with a low carbon footprint. The acquisition will be in
line with customers' sustainability drive and to meet their demands for more
recycling of post consumer products. This project acquisition will also provide
access to proven recycling technology and the potential for a technology
transfer to the Company's Asian assets with a reduced learning curve.
The value of the above combined acquisition, calculated in accordance with the
regulation of the Capital Market Supervisory Board and the Stock Exchange of
Thailand, is less than 15 percent as prescribed by the regulation of the Stock
Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed
Companies Concerning the Acquisition and Disposition of Assets, 2004 (as
amended).
We will update on completion of the transaction together with its structure.
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary
______________________________________________________________________