Indorama puts another piece in the jigsaw in Brazil
25/02/2019
The facility, 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 this acquisition marks its entry into Brazil’s fibre business, a move it has described as “a strategic step forward”. It will allow it to add fibre production capacity, as well as establishing a presence in South America’s largest economy.
The group expects to make cost savings by creating synergies and operating efficiencies between its new acquisition and a nearby Indorama-owned PET site.
Commenting on the acquisition, Aloke Lohia, CEO of Indorama, said: “We are putting the puzzle pieces in place, and this acquisition is a perfect piece in the fibres market. Not only does it help strengthen our industry-leading positioning, but it also enhances our ability to serve the growing needs of customers with high-quality fibres.”
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