Thailand Indorama Venture Will Become The World'S Largest Polyester Producer.
Thailand Indorama venture capital
Public limited announces that the company has signed a final agreement to acquire a number of subsidiary facilities of BV, including Spartanburg, S.C. and Quer e taro in Mexico.
Polyester polymer
as well as
resin
Manufacturing plant.
The total value of the acquisition will reach US $420 million, including net fixed assets and equity valued at US $229 million, and US $174 million net operating capital.
The acquisition comes partly from cash on hand, and some of the financing comes from existing credit and other debt.
The acquisition process will end in the first quarter of 2011.
Aloke Lohia, chief executive officer of Indorama venture capital, said that the planned acquisition would allow IVL to be based on our expanding global platform to make the company the world's largest polyester producer. Our strategy is to enter new regions with faster development speed, such as Central America and Latin America.
We believe that these valuable assets will continue to enhance our ability to strengthen our PET and fiber business.
We are very excited about this.
In addition, infield's innovative products and well-known brands will enable Indorama venture capital to enhance the value of the company among its customers and stakeholders.
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