PLASTICS
IVL rules out new M&As amid revenue shortfall, supply glut
- Published: 16 Nov 2012 at 00.00
- Newspaper section: Business
Indorama Ventures Plc (IVL) expects revenue to fall short of the targeted US$8 billion this year and has ruled out mergers and acquisitions (M&As) over the next 12 months as the polyethylene terephthalate (PET) spread continues its plunge.
The SET-listed company yesterday announced it will spend $220 million to expand its PET polymers production capacity in the US, part of a three-year, $500-million capital expenditure.
The new plant will increase annual PET capacity in North America to 2.1 million tonnes by 2015, an increase of 540,000 tonnes.
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