For the second quarter of 2016 Indorama Ventures’ core profit after tax and non-controlling interests rose 74 per cent year-on-year driven by margin recovery in the polyethylene terephthalate (PET) segment and contributions from additional feedstock volumes. Core EBITDA saw PET growth of 19 per cent underpinned by excellent growth in the fiber segment of 46 per cent year-on-year.
The company’s blend of focused businesses is expected to transform it as one of the most competitive producers in its space and provide it downside protection on volumes and integrated margins while preserving its upside potential as the industry recovers. Thailand-based Indorama Ventures, is one of the world’s leading petrochemical producers and a leading global manufacturer of wool yarns. Its products serve major players in diversified end use markets including food, beverages, personal and home care, health care, automotives, textile and industrial.
The company’s portfolio comprises necessities and high value-added categories of polymers, fibers, and packaging. With a focus on cost and efficiency, Indorama Ventures is now positioned among the lowest cost polyester chain producers in the world. In a proactive move towards maximising its value chain and operational synergies, Indorama Ventures has expanded its PET and polyester businesses in recent years.
