Indorama gets $300 Million Loan from IFC to Raise Recycling Capacity

The International Finance Corporation (IFC) has extended its maiden blue loan worth $300 million to Thailand-based Indorama Ventures, a leading plastic resin manufacturer, to fight marine pollution in Asia and Latin America. Indorama will utilise the loan to recycle 50 billion PET (polyethylene terephthalate) bottles globally per annum by 2025, with focus on Thailand, Indonesia, … Read more

Grasim Sells Indo Gulf Fertilizers to Indorama for $355 Million

Grasim Industries has decided to sell its fertilizer business to Indorama Corporation for Rs 2649 crore ($355 million). The flagship company of Aditya Birla Group on Thursday approved the divestment of its fertilizer business, Indo Gulf Fertilizers (IGF), by way of a slump sale to Indorama India Pvt Ltd (IIP), a subsidiary of Indorama Corporation … Read more

Indorama Acquires PET Recycling Facility in Poland

Indorama Ventures Ltd. (IVL) announced that it has, through its indirect subsidiary Indorama Netherlands B.V., signed a Conditional Share Purchase Agreement with O.R.V. Ovattificio Resinatura Valpadana S.P.A. and OPOKA LTD., to acquire a 100% equity stake of Industrie Maurizio Peruzzo Polowat spółka z ograniczoną odpowiedzialnością (IMP Polowat), a limited-liability company incorporated under the laws of … Read more

Indorama Extends the Completion of Corpus Christi Plant to 2023

Indorama Ventures Limited has announced that the company decided to extend the pre-construction period of the PTA-PET plant in Corpus Christi, Texas through the end of 2020. Christi Polymers LLC (CCP), a joint venture among certain subsidiaries of Indorama Ventures Holding, Alpek and Far Eastern Investment (Holding) Limited was created to acquire and complete construction … Read more

Indorama Profits Fall despite High Volumes

Indorama Ventures Limited (IVL) reported a net loss despite rise in volume growth in the fiscal year 2019. The sales volume grew by 18%, driven reportedly by inorganic expansion. Industry-wide spreads declined to historical lows in 2019, leading to 20% reduction in IVL’s core EBITDA, as company stated. Operating cash flow increased 33% to $1.3 … Read more

Indorama Acquires PET Recycler Green Fiber International

Indorama Ventures Public Company Limited (IVL), a global chemical manufacturer, has acquired Green Fiber International Inc. (GFI), a recycling company in Fontana, California, USA. The facility produces Recycled Polyethylene Terephthalate (rPET) Flakes. The acquisition has a combined capacity of 40,000 tonnes/annum. Green Fiber International Inc. offers high-quality recycled PET bottle flakes for food contact to … Read more

Huntsman Sells its Intermediates, Surfactants Businesses to Indorama for $2.1 B

Huntsman Corporation announced on Friday that it has entered into a definitive agreement to sell its chemical intermediates businesses, which includes PO/MTBE, and its surfactants businesses to Indorama Ventures in a transaction valued at $2.076 billion. The transaction comprises a cash purchase price of $2.0 billion plus the transfer of up to approximately $76 million … Read more

Indorama Launches Recycled PET Business Branded DEJA

Indorama Ventures Public Company Limited (IVL), a global chemical producer, launched new 100% rPET (recycled PET) brand DEJA as part of its continuous commitment to deliver responsible and sustainable growth. DEJA, 100% rPET products are derived by recycling 140 kilo tonne of plastic bottles yearly and transforming them into extra-ordinary, innovative, product ingredients. The PET … Read more

Indorama Achieves Mechanical Completion of Louisiana Cracker

Indorama Ventures Public Company Limited announced on Friday that its indirect subsidiary Indorama Ventures Olefins LLC has achieved mechanical completion of its ethane cracker and is undergoing trial runs. Located at Westlake, LA, USA, Indorama Ventures Olefins LLC (IVOL) is a manufacturer of Ethylene from Ethane with annual capacity of 440,000 MT. IVOL has stabilized … Read more