IRP management remains positive and expects to maintain the growth momentum in revenues and earnings. IRP continues to march strongly into the future, having placed the orders for its new 432,000 tpa plant in USA which is scheduled for startup by Q1, 2009.
This plant will be a new milestone for IRP and USA's largest PET plant. The plant is co-located with the largest producer of PTA in the world BP Chemicals Inc.
This new investment will re-define the cost competitiveness of IRP to new levels, much lower than its existing operations which IRP believes are unique in the industry.
The demand remains strong from all regions for PET polymers and the total demand in the current year is expected to increase to 13.5 million tons, a demand increase equivalent to a million ton or a growth of 8%. The growth in demand is coming from existing and new applications.
Water and Energy drinks continue to be the high growth segments. PET polymers can be recycled and therefore considered to be environment friendly, which is resulting in replacement growth over other packaging materials and is preferred by beverage producers and retail chains/supermarkets/hypermarkets.
IRP is the worlds 7th largest producer and has the largest market share of PET polymers in Thailand. IRP is marching forward with confidence in its future performance.
Indorama Polymers Public Company Limited
marketing@alchempro.com
