IVL Increases Stake in TPT to 99.9%Vertical Integration of Essential Feedstock to be Accretive to Earnings

Thursday 07 October 2010 11:40
Indorama Ventures Public Company Limited, the world’s largest pure-play integrated Polyester producer, has increased its shareholding in TPT Petrochemicals Public Company Limited (TPT) from 54.7% to 99.9% by acquiring the shares of minorities for approximately Baht 2,896 million.

“TPT recorded a net profit of Baht 1,283 million in 2009 and Baht 547 million in the first half of 2010,” said Mr. Aloke Lohia, Group CEO of Indorama Ventures Public Company Limited upon the conclusion of the deal. “The acquisition of the remaining shares up to 99.9% will be value accretive to IVL’s consolidated bottom line and also provide us with greater flexibility over the management of the company.”

TPT produces purified terephthalic acid, or PTA, an essential feedstock used in the manufacture of polyethylene terephthalate, or PET, and Polyester fibers and yarns. Situated in Rayong Province, Thailand, TPT owns and operates a 540,000 metric ton per annum PTA plant with its own 55 MW power plant.

Issued by : Indorama Ventures Public Company Limited

For further information : Richard Jones

Indorama Ventures Public Company Limited

Tel. 0 2661 6661 ext. 680

Email: [email protected]