IVL weathers volatile year
Rebound in chemical prices provides relief
- Published: 23 Aug 2012 at 00.00
- Newspaper section: Business
The SET-listed Indorama Ventures Plc (IVL), the world's largest polyethylene terephthalate firm, is on track for revenue of US$8 billion baht this year after petrochemical prices rebounded this quarter.
Chief executive Aloke Lohia said while the spread has been steady, monoethylene glycol (MEG) prices have recovered by 20% to about $1,000 a tonne from $850 at the end of June.
In April, IVL acquired the Texas-based Old World Industries, making it the only global polyester producer to integrate both purified terephthalic acid (PTA) and MEG.
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