Bangkok--Apr 7--Weber Shandwick
Indorama Polymers Public Company Limited (IRP), a global player in the manufacturing of polyethylene terephthalate (PET) polymers, plans to offer 368.00 million shares to public through an IPO. The demand for PET bottles across various products usage categories continues to grow strongly. Siam City Securities Co. Ltd. is acting as the company’s financial advisor.
Mr. Aloke Lohia, Director and Chief Executive Officer of Indorama Polymers Public Company Limited, said, “The company has filed an application for an Initial Public Offering (IPO) with the Securities and Exchange Commission of Thailand (SEC) in order to raise capital. The purpose of the IPO is to raise capital to repay loans to commercial banks and financial institutions and build reserves for future capital requirements in IRP and its subsidiaries; Asia Pet (Thailand) Limited, StarPet Inc. in USA, UAB Orion Global Pet in Lithuania and Petform (Thailand) Limited. We are committed to reach annual capacity of 424,000 tons by first quarter of 2006.
“Indorama Polymers established and commissioned its first PET Polymers plant in Lopburi in 1995 under the name IndoPet (Thailand) Limited, know known as Indorama Polymers Public Company Limited. The company also formed a joint venture, Petform(Thailand) Limited, with Serm Suk Public Company Ltd, the Thai bottler of Pepsi Co., to manufacture preforms and HDPE closures in 1998. Since acquiring StarPet inc. in the USA, Indorama Polymers is positioning itself to become one of global manufacturer of PET Polymers. Upon the start of operations of the new PET resin plant of UAB Orion Global Pet. in Lithuania, Europe, in the first quarter of 2006, Indorama Polymers will operate plants in each of the major continents consuming PET Polymers, namely Asia, Europe and North America. These regions combined consume 88% of the global demand for PET Polymers.”
Mr.Lohia added: ‘IRP‘s total performance revenues, including its subsidiaries, have increased continuously over the past three years from 1,399 million baht in 2002 to 5,122 million baht in 2003, an increase of 266%, and to 9,305 million baht in 2004, an annualized growth rate of 82% .Revenue growth has been driven by increased volume growth resulting from both expansions, and acquisitions.
“The company has grown from a national one to a global organization within 10 years. It is strategically placed in a dynamic industry that is seeing phenomenal rates of growth. Governments and consumers are turning away from polluting plastics, heavy and fragile bottles and easily damaged paper to the fully — recyclable, sturdy and lightweight alternative of PET.”
“Indorama Polymers believes in working together with its business partners; customers, suppliers of raw materials and technology suppliers, to develop new products and enlarge the use of PET Polymers as a packaging material. IRP’s key strengths are its competitive structure, high quality products, world class production facilities and an experienced management team. Investment in PET Polymers production is driven by regional dynamics, as well as global visioning. Regional strategies are designed to provide fast and efficient service to our customers, improve logistics costs and enhance our customer focus while being aware of world trends in production and demand.” Mr.Lohia concluded.
Note to editor: Indorama Polymers Public Company Limited (IRP) was established as IndoPet (Thailand) in 1995. The company is a world class manufacturer of PET Polymers through its 4 subsidiaries; (1) Asia Pet (Thailand) Limited (2) StarPet Inc. USA (3) UAB Orion Global Pet Lithuania (4) Petform (Thailand) Limited. Indorama Polymers is clearly focused on growing with the global trend in demand, while maintaining its ability to optimally serve its customers in the domestic and regional markets of its manufacturing facilities.
For more information, please contact:
Mr.Pramod Narayan Dubey
AVP - Marketing
Indorama Polymers Public Company Limited
Tel: 0 2661 6661
Email: [email protected]
Khun Kamonwan Thansri
Public Relations Consultant, Weber Shandwick (Thailand) Limited
Tel: 0 2257 0300 ext 332
Email: [email protected] End.