United States – Asia’s world-leading integrated polyester chain producer Indorama Ventures Plc has acquired FiberVisions Holdings of the USA in a move that will boost the former’s production volume by 20%.
The Georgia-based addition to the group is a global market leader in mono- and bi-component fibres used for various applications. As a result of the acquisition, Indorama now has a total annual capacity of 221 000 tonnes, comprised of 117 000 tonnes in the USA, 90 000 tonnes in the EU and 14 000 tonnes in China.
Indorama’s Chief Executive Aloke Lohia said the increased production will offset a revenue loss from its Lop Buri plant in Thailand where production has been suspended since late September owing to floods. Production of recycled PET resin recommenced in November, with plans to add more recycling capacity in Thailand in the coming years. Indorama is also planning investments in specialised bi-component fibres and yarns in Thailand and Indonesia.