Bangkok--Apr 26--Weber Shandwick (Thailand)
Indorama Polymers Public Company Limited (IRP) has expressed its pleasure in response to last week’s ruling that no anti-dumping duty will be levied in the US on PET Polymers. The International Trade Commission found that US industry was not materially injured or threatened by the import of PET-resin products from three countries, including Thailand, and thus no anti-dumping duty or countervailing duty orders would be necessary.
Indorama is a global leader in the manufacture of polyethylene terephthalate (PET) polymers. In 2003, Thailand’s PET manufacturers exported about 106,000 tons of PET resins to the US. Exports experienced a sharp drop to 9,000 tons in the second half of 2004, due to the initiation of anti-dumping investigations.
Mr. Anil (Aloke) Lohia, Chief Executive Officer of IRP, said: “We’re very pleased with the US ITC’s ruling, and their rightful decision that no anti-dumping duty or countervailing-duty on the import of PET-resin products needs to be issued. This is great news for Indorama, as it re-opens the window for exports of PET resin products from Thailand to the US.”
“Indorama will now be able to supplement the needs of our customers who are presently serviced by our StarPet subsidiary in the US with more PET polymers products, and continue to engage in fair international trade practices,” he added.
PET polymers products manufactured by IRP are used in a wide array of plastic packaging, including bottles for beverages and personal care products, home care and industrial products like detergents, cleaners, and lubricating oils, and special products like video tape, tyre cords, safety belts, strapping, engineering components, and X-Ray film.
The company is planning an IPO on the Stock Exchange of Thailand later this year and Siam City Securities Limited, the financial advisors to the company believe that the US ITC ruling will have a favorable impact on the market position of Indorama Polymers.
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:
Khun Kamonwan Thansri
Public Relations Consultant, Weber Shandwick (Thailand) Limited
Tel: 0 2257 0300 ext 332
Email: [email protected]
Mr.Pramod Narayan Dubey
AVP - Marketing
Indorama Polymers Public Company Limited
Tel: 0 2661 6661
Email: [email protected] End.