Following the announcement in March this year that it had signed an agreement to acquire Cilegon / Indonesia-based Polypet Karyapersada (Ciwandan, Cilegon / Indonesia; www.polypet.co.id) – see Plasteurope.com of 08.03.2012 – Indorama Ventures (IVL, Bangkok / Thailand; www.indoramaventures.com) on 10 August said the purchase had been completed. The Indonesian company’s 100,800 t/y PET capacity is now part of Indorama Polypet Indonesia.

Polypet’s facility is located only 80 km southwest of Indorama Ventures Indonesia’s existing 85,000 t/y PET plant in Tangerang and in the immediate vicinity of another group company – Indorama Petrochemicals – which turns out 465,000 t/y of PTA feedstock, Plasteurope.com’s Polyglobe capacity database (www.polyglobe.net) shows. IVL said that as a result of acquisition-related synergies, the cost of operating both PET plants would decrease. In addition, the proximity to the PTA facility would result in shares services as well as logistics savings.