| CEO Aloke Lohia noted that the last 3 years saw the group revenue tripling USD 1.7 billion in 2007 compared to around USD 500 million in 2004. "Going forward, we have a clear strategy for creating significant value," Lohia said, "we are leveraging the greatest strengths we have as an industrial house, the attractive growth prospects of our business and the capabilities of our people to innovate and execute. We expect to build on our strong earnings by focusing on two additional areas - PTA and Polyester fibers - in addition to the ongoing PET polymers growth." |
| "We have signed a memorandum of understanding with Rayong based, SET listed - Tuntex (Thailand) PCL to acquire their business consisting of Polyester fibers and filaments. This makes a strategic fit with our existing Thailand based polyester business in Nakhompathom "� Indo Poly Ltd. The revenue from this segment is thus set to rise from USD 131 million currently to USD 600 million in 2010 post a total restructuring exercise." |
| Lohia explained, "we believe we will emerge as Thailand's premier Polyester company in Fibers as well, as we have in PET polymers, and we expect our total polymer production to rise close to 2 million tonnes from 700,000 tonnes in 1997." |
| Together with Indorama associates in Indonesia and India the total production will rise to about 2.8 million tonnes and emerge as the global leader allowing the group to leverage its scale in all aspects to create customer delight. |
| "With regards to PTA, the key feedstock for polyester, we will continue to strengthen our position by owning and/or co-locating to strategic assets. Indorama currently has a 700,000 tonnes PTA facility in Rayong, Thailand and will soon add the previously announced Eastman's 340,000 tonnes PTA plant in Rotterdam, Netherlands. In addition, the acquisition of Tuntex (Thailand) PCL includes a minority interest in Thailand's first PTA producer - Tuntex Petrochemicals PCL which has a capacity of 550,000 tonnes," Lohia added, "we are convinced that in commodity industry, not only do we need scale, we have to integrate into feedstocks to create sustainable competitive advantages and Indorama Thailand is clearly headed towards this. At Indorama Thailand, we have a history of following through on our commitments," Lohia said. "We have great confidence that the priorities announced today will support Indorama's sustained success and we look forward to maintaining the track record we have established." |
| About Indorama Thailand |
| Indorama Thailand is the given name to the parent company of legal entities operating in Thailand i.e. Indorama Polymers PCL, Indorama Holdings Ltd. and Indorama Petrochem Ltd. Indorama Thailand is a leading World Class Industrial house in the Aromatic chain consisting of PTA, Polyester fibers and PET polymers. The beneficial owners of the alliance are the family of Mr S.P. Lohia of Indonesia and Mr Aloke Lohia of Thailand. |
| Indorama Thailand is a leader in all major global markets, with leading products and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 7 European, Asian and American countries exposes the company to all the key polyester markets, from emerging to mature, positions it will be looking to develop in the high-growth Brazil, Russian, Indian and Chinese markets (BRIC). |
| Indorama Thailand's key pro forma financials for 2007 show combined revenues of USD 1.7 billions, with a PTA production of 600,000 tonnes and Polyester production of 700,000 tonnes, representing around 2 per cent of world polyester output. |
| Indorama Thailand's subsidiary Indorama Polymers PCL is listed on the Stock Exchange of Thailand ("SET"). |
Top Section
Explore Business Standard