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In this Edition November 2011 |
COMPANY NEWS |
MATERIALS NEWS |
MACHINERY NEWS |
INJECTION MOULDING ASIA |
RUBBER JOURNAL ASIA |
 ELECTRONIC ISSUE |
PRA October-November 2011 Electronic Issue Still Available |
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Company News
Indorama reaps in a bounty
M
eanwhile, Thai integrated PET producer Indorama Ventures, despite the country's recent flooding that forced it to close its facility in Lopburi, saw its earnings grow by 76% in the first nine months of 2011 to US$515 million from US$292 million in the same period last year.Sales also grew to US$4,708 million, compared to US$2,222 million last year, resulting in growth of 112%. While sales in Q3/2011 remained relatively flat compared to Q2/2011 at US$1,689, in line with industry prices, the company was able to outperform by increasing its volume of output to 1.2 million tonnes in Q3/2011, up from 1.1 million tonnes in Q2/2011, as demand continued to drive growth in all markets.
Aloke Lohia, Group CEO, said, "As we move forward with our plans to grow the business, we will deliver better economies of scale, improve sustainability and be more immersed in the speciality polymers and fibres and yarns businesses to enhance our bottom line."
He added, "There are still opportunities for us to expand in markets like Indonesia and grow with the emerging economies while bolstering our market position in the developed nations."