Indorama expands its presence in Brazil
05/11/2018
The company’s plant, which is located in Cabo de Santo Agostinho in Brazil’s Pernambuco state, has a total polymerisation capacity of 75,000 tonnes per year.
Indorama has said the acquisition fills an important gap in its global footprint. It will allow the company to gain a stronger footing in the Brazilian market and in the wider Latin American market due to established free trade agreements.
M&G Fibras Brasil’s plant is near to Indorama’s existing PET site in Brazil and to a third-party PTA site it has there. It plans to bring the commercial offices of all three sites together at one location in Sao Paolo.
Commenting on the acquisition, Aloke Lohia, CEO of Indorama, said: “Brazil, with its large spinning industry is a natural place for the textile industry to enjoy long-term growth due to its location and large population. We intend to support the local spinning industry with a commitment to supply high-quality fibres to blend with cotton and reduce dependence on imports.”
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