Indorama Ventures Public Company Limited (“IVL”) is pleased to announce the 100% acquisition of the PET resin assets of PT Polypet Karyapersada. The PET facility is located at Cilegon, Indonesia with a production capacity of 100,800 tons per annum.
In this regard, the Company has signed a definitive Asset Purchase Agreement with the Seller on 5 March 2012. The transaction is expected to be completed in the first quarter of 2012 subject to the required local regulatory approvals. Indorama Ventures Public Company Limited (“IVL”) is pleased to announce the 100% acquisition of the PET resin assets of PT Polypet Karyapersada. The PET facility is located at Cilegon, Indonesia with #
PT Polypet Karyapersada is located adjacent to IVL's joint venture PTA assets of PT Indorama Petrochemicals (formerly known as PT Polyprima Karyareksa), a PTA producer and will provide IVL the opportunity to further consolidate its foothold in expanding Indonesian PET market.
The assets will be held by a new IVL, indirect subsidiary, PT. Indorama Polypet Indonesia.
The value of the assets acquisition, calculated in accordance with the regulation of the Capital Market Supervisory Board and the Stock Exchange of Thailand, is less than 15 percent as prescribed by the regulation of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, 2004 (as amended).
Indorama Ventures Public Company Limited
marketing@alchempro.com
