Indorama achieves its first $3 billion quarter - sportstextiles: Lea SportsTextiles

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Indorama achieves its first $3 billion quarter

08/05/2019
Fibre manufacturer Indorama has announced revenues of $3 billion for the first quarter of 2019, an increase of 25.5% compared to the same quarter a year earlier. This is the first time Indorama’s revenues have reached $3 billion in one quarter.

The company said its polyethylene terephthalate (PET) segment benefitted from higher production volumes and higher overall earnings from various assets Indorama acquired in 2018 in Portugal, Egypt and Brazil, and that its fibre segment had also achieved “solid results”.

Commenting on the results, chief executive, Aloke Lohia, said: “Despite encountering several temporary hurdles, I feel we have put into place the strategies necessary to continue our growth trajectory. Our mix of products and geographic diversity reflect the resilience of our integrated business model. We remain confident of doubling our earnings every five years.”


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