Reports to the Stock Exchange
Acquisition of Packaging Business in Africa
Acquisition and disposition of assets
Ref.No.IVL005/02/2013
22 February 2013
President
The Stock Exchange of Thailand
Subject: Acquisition of Packaging Business in Africa
Indorama Ventures Public Company Limited (IVL), would like to inform that in its
Board of Directors meeting today, approved the acquisition of a packaging
company in Nigeria, Africa, producer of PET preforms that are later blown into
bottles by its customers of water or carbonated soft drinks. This acquisition
will be a forward integration for Indorama Ventures PET segment which set up an
84,000 Mts. per annum PET bottle resin manufacturing unit in Nigeria in 2012.
This acquisition will enable IVL to grow the demand of PET in West Africa which
is still predominantly a glass based beverage consumer and aggressively grow
volumes for its PET resin business in Nigeria and Western Africa by leveraging
PET resin and Packaging capabilities as demonstrated in Thailand.
The transaction is expected to be completed within the first half of 2013
subject to usual regulatory approvals.
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary
______________________________________________________________________
This announcement was prepared and disseminated by listed company or issuer
through the electronic system which is provided for the purpose of dissemination
of the information and related documents of listed company or issuer to the
Stock Exchange of Thailand only. The Stock Exchange of Thailand has no
responsibility for the correctness and completeness of any statements, figures,
reports or opinions contained in this announcement, and has no liability for any
losses and damages in any cases. In case you have any inquiries or
clarification regarding this announcement, please directly contact listed
company or issuer who made this announcement.
Ref.No.IVL005/02/2013
22 February 2013
President
The Stock Exchange of Thailand
Subject: Acquisition of Packaging Business in Africa
Indorama Ventures Public Company Limited (IVL), would like to inform that in its
Board of Directors meeting today, approved the acquisition of a packaging
company in Nigeria, Africa, producer of PET preforms that are later blown into
bottles by its customers of water or carbonated soft drinks. This acquisition
will be a forward integration for Indorama Ventures PET segment which set up an
84,000 Mts. per annum PET bottle resin manufacturing unit in Nigeria in 2012.
This acquisition will enable IVL to grow the demand of PET in West Africa which
is still predominantly a glass based beverage consumer and aggressively grow
volumes for its PET resin business in Nigeria and Western Africa by leveraging
PET resin and Packaging capabilities as demonstrated in Thailand.
The transaction is expected to be completed within the first half of 2013
subject to usual regulatory approvals.
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary
______________________________________________________________________
This announcement was prepared and disseminated by listed company or issuer
through the electronic system which is provided for the purpose of dissemination
of the information and related documents of listed company or issuer to the
Stock Exchange of Thailand only. The Stock Exchange of Thailand has no
responsibility for the correctness and completeness of any statements, figures,
reports or opinions contained in this announcement, and has no liability for any
losses and damages in any cases. In case you have any inquiries or
clarification regarding this announcement, please directly contact listed
company or issuer who made this announcement.