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11th October 2017, Bangkok

Indorama Ventures acquires DuPont Teijin Films

The DTF acquisition includes eight production assets in the US, Europe and China, with a global innovation centre in the UK.Indorama Ventures (IVL), a leading chemical producer, has entered into an agreement to acquire DuPont Teijin Films (DTF), a producer of Biaxially-oriented Polyethylene Terephthalate (BOPET) and Polyethylene Naphthalate (PEN) films with total film/polymer capacity of 277,000 tonnes per annum.

The DTF acquisition includes eight production assets in the US, Europe and China, with a global innovation centre in the UK. The transaction is expected to be completed during late 2017 or early 2018.

DuPont Teijin Films

DuPont Teijin Films (DTF), a joint venture between DuPont and Teijin, is the premier producer of BOPET and PEN polyester high value-added film with unique functionalities. The group specialises in film products for the specialty, industrial, packaging, automotive, advanced magnetic media, photo systems, electrical and electronics markets and many more products that are essential in modern life.

Included in the transaction are manufacturing and R&D operations associated with four joint ventures in the US, UK, Luxembourg, and Hong Kong (DTFC), which includes two JVs in China (51%), as well as sales and technical capabilities, intellectual property, licences and the Melinex and Mylar registered brands.

BOPET film industry

The global BOPET film industry has expanded rapidly and there are increasing applications and end-uses. The global consumption of BOPET is expected to increase at an average rate of about 7% CAGR per annum making the acquisition attractive. Critical success factors are customer intimacy, product innovation and R&D capabilities, which align well with DTF’s core competencies. Through the acquisition, IVL says it will further enhance PET integration and value-enhancement through captive NDC, a specialty chemical used in high performance polymers and films.

“This acquisition marks a new chapter for IVL. It is the next step in creating a leading position for customer solutions in films. DTF provides prudent growth in an industry related to our core businesses and is a strong foundation for future growth. DTF has a strong history of R&D with over 700 patents, which makes it a strategic fit with our own innovation capabilities,” said Aloke Lohia, Group CEO of Indorama Ventures.

“We believe in diversity as a core value of the Company and we look forward to welcoming DTF’s strong management team and talented employees into our family.”

www.indoramaventures.com

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