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Indorama to pursue further acquisitions after strong H1

10/08/2018
Polymer, fibre and chemicals manufacturing group Indorama has announced revenues of just over $5 billion for the first six months of 2018. This represents an increase of 22% compared to the same period last year. Earnings on these revenues reached $742 million, an increase of 57% year on year.

It said on making the announcement that the increase had come about through organic growth, “operational excellence initiatives”, and acquisitions it has made. At the start of 2018, Indorama had 15,000 employees at 75 manufacturing sites around the world, but it has continued to make acquisitions since then.

It has made six acquisitions since March, including PET plants in Brazil and Egypt, which has added net PET capacity of 1.1 million tonnes.

Commenting on the results, chief executive, Aloke Lohia, said: “This is an encouraging set of results reflecting the strong execution of our strategy, the growth momentum in our businesses, and ongoing structural improvement. The outlook for the second half of the year is equally encouraging as we anticipate current market conditions to prevail. We will continue to pursue opportunities in  our key segments to further strengthen the foundations of sustainable performance.”


Related stories:

Indorama’s revenue exceeded $10 billion in 2018 27/02/2019
Indorama puts another piece in the jigsaw in Brazil 25/02/2019
Indorama steps up its US acquisition efforts 03/01/2019
Invista sells resins and fibres business to Indorama 20/12/2018
Indorama expects to thrive in difficult environment 09/11/2018
Indorama expands its presence in Brazil 05/11/2018

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