Thailand’s Indorama shuts PET, PTA plants permanently in Netherlands
by ChemOrbis Editorial Team - content@chemorbis.com
According to a statement on the Stock Exchange of Thailand, Indorama Ventures has closed its PET/PTA site permanently in Rotterdam, the Netherlands, as part of the asset optimization plan under IVL 2.0. The decision came after the company announced its intention to shut some plants permanently back in April this year.
This initiative is a part of the company’s IVL 2.0 strategic plan, which aims to address current market challenges via reducing costs and improving profitability. The overcapacity in China and a structural imbalance in the regional refinery capacities putting pressure on raw material costs were cited as the reasons behind the decision.
The site has a total production capacity of 700,000 tons/year of PTA and 426,000 tons/year of PET.
Meanwhile, the closure of an ethylene oxide (EO) and derivatives facility in Australia is also part of a broader asset optimization plan, with seven of its production sites also being reviewed.
This initiative is a part of the company’s IVL 2.0 strategic plan, which aims to address current market challenges via reducing costs and improving profitability. The overcapacity in China and a structural imbalance in the regional refinery capacities putting pressure on raw material costs were cited as the reasons behind the decision.
The site has a total production capacity of 700,000 tons/year of PTA and 426,000 tons/year of PET.
Meanwhile, the closure of an ethylene oxide (EO) and derivatives facility in Australia is also part of a broader asset optimization plan, with seven of its production sites also being reviewed.
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