Indorama
Thai plastic producer acquires rival
YUKAKO ONO, Nikkei staff writer
March 18, 2015
BANGKOK -- Thailand's Indorama Ventures, which makes the resin plastic bottles are made of, will acquire a 94.91% stake of rival Bangkok Polyester for an undisclosed amount, Indorama Ventures said in a statement Wednesday.
The maker of polyethylene terephthalate resin will buy the shares from Bangkok Cable, an electric wire and cable manufacturer that is Bangkok Polyester's majority shareholder. The transaction is to be completed in the second quarter of 2015, after regulatory approval.
Bangkok Polyester has a polyethylene terephthalate polymer plant in the eastern province of Rayong that has an annual capacity of 105,000 tons.
Polyethylene terephthalate accounts for 59% of Indorama's revenue, fibers--mainly polyester fibers--account for 29% and feedstock for 12%.
In a February statement, Indorama said it is pursuing four potential acquisitions. These along with two previously announced acquisitions to be completed during the current quarter would increase Indorama's 2015 production volume by 1.9 million tons, or 25%.
In 2014, the company's production volume was 6.2 million tons, 8% more than the previous year, thanks to additional volume from two acquisitions that were completed in the second quarter of the year.
asia.nikkei.com
Thai plastic producer acquires rival
YUKAKO ONO, Nikkei staff writer
March 18, 2015
BANGKOK -- Thailand's Indorama Ventures, which makes the resin plastic bottles are made of, will acquire a 94.91% stake of rival Bangkok Polyester for an undisclosed amount, Indorama Ventures said in a statement Wednesday.
The maker of polyethylene terephthalate resin will buy the shares from Bangkok Cable, an electric wire and cable manufacturer that is Bangkok Polyester's majority shareholder. The transaction is to be completed in the second quarter of 2015, after regulatory approval.
Bangkok Polyester has a polyethylene terephthalate polymer plant in the eastern province of Rayong that has an annual capacity of 105,000 tons.
Polyethylene terephthalate accounts for 59% of Indorama's revenue, fibers--mainly polyester fibers--account for 29% and feedstock for 12%.
In a February statement, Indorama said it is pursuing four potential acquisitions. These along with two previously announced acquisitions to be completed during the current quarter would increase Indorama's 2015 production volume by 1.9 million tons, or 25%.
In 2014, the company's production volume was 6.2 million tons, 8% more than the previous year, thanks to additional volume from two acquisitions that were completed in the second quarter of the year.
asia.nikkei.com
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