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Indorama Ventures awarded by EcoVadis Sustainability Assessment (c) Indorama Ventures
02.02.2024

Indorama Ventures awarded by EcoVadis Sustainability Assessment

Indorama Ventures Public Company Limited has been awarded the 'Platinum Medal' by EcoVadis Sustainability Assessment, underscoring the company's commitment to sustainability.

Indorama Ventures actively participates in the annual EcoVadis assessment to measure its sustainable practices, ensuring alignment with the diverse requirements of key customers across various business segments and operations. In the latest evaluation for 2024, the company achieved a Platinum Medal with a score of 80, surpassing last year’s score of 77. Indorama Ventures is ranked in the top 1% of all companies assessed within the primary industries of basic chemicals. The company demonstrated above industry-average performance in all four assessment areas: environment, labor human rights, ethics, and sustainable procurement.

Indorama Ventures Public Company Limited has been awarded the 'Platinum Medal' by EcoVadis Sustainability Assessment, underscoring the company's commitment to sustainability.

Indorama Ventures actively participates in the annual EcoVadis assessment to measure its sustainable practices, ensuring alignment with the diverse requirements of key customers across various business segments and operations. In the latest evaluation for 2024, the company achieved a Platinum Medal with a score of 80, surpassing last year’s score of 77. Indorama Ventures is ranked in the top 1% of all companies assessed within the primary industries of basic chemicals. The company demonstrated above industry-average performance in all four assessment areas: environment, labor human rights, ethics, and sustainable procurement.

Source:

Indorama Ventures

Indorama
19.12.2023

Indorama Ventures again a member of the DJSI World and DJSI Emerging Markets

Indorama Ventures Public Company Limited has been selected for inclusion in the Dow Jones Sustainability World Index (DJSI World) for the fifth consecutive year and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the seventh year in a row.

Indorama Ventures ranked in the 92nd percentile amongst 11 chemical companies eligible for listing out of 89 chemical companies invited, with a Corporate Sustainability Assessment (CSA) Score of 73 out of 100. The score reflects the company’s best-in-class performance in innovation management, covering product innovation, process innovation, and open innovation, which involves collaborative research and development with external organizations such as customers, suppliers, brand owners, and academic institutions. It also recognizes the company’s achievements in decarbonization, climate change resiliency and adaptation, plastic waste management and recycling, corporate social responsibility, and contribution to the Sustainable Development Goals (SDGs).

Indorama Ventures Public Company Limited has been selected for inclusion in the Dow Jones Sustainability World Index (DJSI World) for the fifth consecutive year and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the seventh year in a row.

Indorama Ventures ranked in the 92nd percentile amongst 11 chemical companies eligible for listing out of 89 chemical companies invited, with a Corporate Sustainability Assessment (CSA) Score of 73 out of 100. The score reflects the company’s best-in-class performance in innovation management, covering product innovation, process innovation, and open innovation, which involves collaborative research and development with external organizations such as customers, suppliers, brand owners, and academic institutions. It also recognizes the company’s achievements in decarbonization, climate change resiliency and adaptation, plastic waste management and recycling, corporate social responsibility, and contribution to the Sustainable Development Goals (SDGs).

15.11.2023

Indorama Ventures: 3Q23 Performance report

  • Revenue of US$3.9B, a decline of 1% QoQ and 20% YoY
  • EBITDA of US$324M, an increase of 1% QoQ and a decrease of 37% YoY
  • Operating cash flows of US$410M
  • Net Operating Debt to Equity of 0.97x
  • EPS of THB 0.00

Indorama Ventures Public Company Limited (IVL) reported stable third-quarter earnings as the company’s management focuses on conserving cash and improving competitiveness to bolster performance in a continued period of weakness in the global chemical industry.

Indorama Ventures achieved EBITDA of $324 million in 3Q23, an increase of 1% QoQ and a decline of 37% YoY, impacted by a weak economic environment, geopolitical tensions, and continued post-pandemic disruptions in global markets. Sales volumes dropped 5% from a year ago to 3.6 million tons as China recovers from the pandemic more slowly than expected and an extended period of destocking in the manufacturing and chemical sectors continues to normalize from unprecedented levels last year.

  • Revenue of US$3.9B, a decline of 1% QoQ and 20% YoY
  • EBITDA of US$324M, an increase of 1% QoQ and a decrease of 37% YoY
  • Operating cash flows of US$410M
  • Net Operating Debt to Equity of 0.97x
  • EPS of THB 0.00

Indorama Ventures Public Company Limited (IVL) reported stable third-quarter earnings as the company’s management focuses on conserving cash and improving competitiveness to bolster performance in a continued period of weakness in the global chemical industry.

Indorama Ventures achieved EBITDA of $324 million in 3Q23, an increase of 1% QoQ and a decline of 37% YoY, impacted by a weak economic environment, geopolitical tensions, and continued post-pandemic disruptions in global markets. Sales volumes dropped 5% from a year ago to 3.6 million tons as China recovers from the pandemic more slowly than expected and an extended period of destocking in the manufacturing and chemical sectors continues to normalize from unprecedented levels last year.

Management continues to focus on conserving cash, realizing efficiency improvements, and optimizing the company’s operational footprint to boost profitability. These efforts resulted in positive operating cash flow of US$410 million in the quarter, positive free cash flow of $79 million year to date, and room for further reductions in working capital going forward. The company’s AA- rating was maintained by TRIS in the quarter, with a stable outlook. 

The company expects the operating environment to improve in 2024 as customer destocking continues to ease across all three of Indorama Ventures’ segments. The ramp up of PET and fibers expansion projects operations in India and the U.S. will also contribute to increased volumes.  

Combined PET posted EBITDA of $146 million, a 25% decline QoQ, amid historically low benchmark PET margins, increased feedstock prices in Western markets, and lingering effects of destocking. Integrated Oxides and Derivatives (IOD) segment posted a 27% rise in EBITDA to $119 million QoQ, supported by strong MTBE margins in the Integrated Intermediates business. The Integrated Downstream portfolio’s profitability was impacted by destocking, inflationary pressures, and margin pressure from imports. Fibers segment achieved a 140% increase in EBITDA to $48 million QoQ as Lifestyle volumes grew in key markets in Asia, and the Mobility and Hygiene verticals benefited from management’s focus on optimizing operations and refocusing the organization. 
 

Source:

Indorama Ventures Public Company Limited

25.09.2023

Indorama Ventures recycles 100 billion PET bottles

Indorama Ventures Public Company Limited, a global sustainable chemical company, announced that it has recycled 100 billion post-consumer PET bottles since February 2011. This has diverted 2.1 million tons of waste from the environment and saved 2.9 million tons of carbon footprint from the product lifecycles. Demonstrating its commitment to support the establishment of a circular economy for PET, in the last ten years Indorama Ventures has spent more than $1 billion towards waste collection of used PET bottles.

Indorama Ventures Public Company Limited, a global sustainable chemical company, announced that it has recycled 100 billion post-consumer PET bottles since February 2011. This has diverted 2.1 million tons of waste from the environment and saved 2.9 million tons of carbon footprint from the product lifecycles. Demonstrating its commitment to support the establishment of a circular economy for PET, in the last ten years Indorama Ventures has spent more than $1 billion towards waste collection of used PET bottles.

The company has also committed a further $1.5 billion to expand its recycling business. To support increased recycling rates globally, Indorama Ventures has expanded its recycling facilities, infrastructure, and public education programs. The unique PET plastic used in soft drinks and water bottles is fully recyclable and is collected in practice and at scale. As a result, PET is the most recycled plastic in the world, and the company’s recycling achievements support that. Building on its position as the world’s largest producer of recycled resin used in plastic beverage bottles, Indorama Ventures is also seeking advanced technologies to deliver more recycling infrastructure globally and reduce lifecycle carbon emissions.

The company now has 20 recycling sites in Asia, the Americas, and Europe. Recent developments include doubling the capacity of a recycling site in Brazil; and the opening of PETValue, the largest bottle-to-bottle recycling facility in the Philippines, in partnership with Coca-Cola. Both part of a $300 million ‘Blue Loan’ Indorama Ventures received in 2020 from the International Finance Corporation (IFC), part of the World Bank, and Asian Development Bank. The loan has the objective of increasing recycling capacity and diverting plastic waste from landfills and oceans in Thailand, Indonesia, Philippines, India, and Brazil - countries seeking support in managing environmental waste. Indorama Ventures has also partnered with the Yunus Foundation, a leading non-profit organization promoting sustainable development with a global network, with the goal of educating one million consumers globally about recycling by 2030 with 200,000 reached so far.

Source:

Indorama

18.08.2023

Indorama Ventures: Performance Summary of 2Q23

  • Revenue of US$4B, a decline of 1% QoQ and 27% YoY
  • Reported EBITDA of US$321M, an increase of 7% QoQ and decrease of 68% YOY
  • Operating cash flows of US$491M
  • Net Operating Debt to Equity of 0.95x
  • Reported EPS of THB 0.04

Indorama Ventures Public Company Limited (IVL) reported marginally improved quarterly earnings as the company’s inherent advantages and continued focus on improving competitiveness helped bolster its business amid a continued weak operating environment.

  • Revenue of US$4B, a decline of 1% QoQ and 27% YoY
  • Reported EBITDA of US$321M, an increase of 7% QoQ and decrease of 68% YOY
  • Operating cash flows of US$491M
  • Net Operating Debt to Equity of 0.95x
  • Reported EPS of THB 0.04

Indorama Ventures Public Company Limited (IVL) reported marginally improved quarterly earnings as the company’s inherent advantages and continued focus on improving competitiveness helped bolster its business amid a continued weak operating environment.

Indorama Ventures achieved Reported EBITDA of $321 million in 2Q23, an increase of 7% QoQ and a decline of 68% YoY. Sales volumes remained resilient, rising 4% QoQ, amid continued destocking in the global chemicals industry from its peak in 4Q last year. Management is taking steps to conserve cash and safeguard the company’s competitive advantages as the global industry is impacted by increased capacity and lower margins with China boosting exports to offset muted domestic demand. Measures include redoubling efforts to reduce working capital and capex targeting $500 million of cash savings this year, optimizing the company’s European manufacturing footprint, and continued focus on Project Olympus, digitalization, and organizational enhancement.

Volumes are expected to improve in the second half of the year, with all three of Indorama Ventures’ business segments benefiting from the management measures and a gradual improvement in the outlook for the industry. Combined PET, the company’s largest segment, posted Reported EBITDA of $194 million, a 37% increase QoQ as destocking eased in most markets and supported stable volumes. Sales volumes are expected to grow in the second half of the year as manufacturing is optimized in Europe and expansion projects ramp up in India.

Fibers segment achieved Reported EBITDA of $20 million, a decrease of 37% QoQ, impacted by lower margins in the Lifestyle vertical and weak demand for Hygiene products in Europe. Volumes are expected to improve as manufacturing in Europe is optimized and expansion projects come online in the U.S and India. Mobility fibers volumes will see improvement in line with increasing automotive demand. Integrated Oxides and Derivatives (IOD) segment posted a 27% decline in QoQ Reported EBITDA to $94 million amid destocking in Crop Solutions market. Volumes will continue to be supported by reducing levels of destocking in the downstream portfolio.

Source:

Indorama Ventures Public Company Limited

Innovation Award for Indorama Ventures and Polymateria Photo Indorama Ventures
21.07.2023

INDA Innovation Award for Indorama Ventures and Polymateria's Biotransformation Technology

Indorama Ventures, in partnership with Polymateria, has been honoured with the INDA Innovation Award for their collaboration in developing pioneering Biotransformation technology to create wipes, which totally biodegrade, leaving no harmful substance or microplastics behind.

The award was presented at the recent World of Wipes International Conference in Atlanta, USA, and recognizes the level of technical innovation and investment that led to developing wipes that both deliver against the sustainability challenges of today while meeting the demands of Indorama Ventures’ customers worldwide.

Through its 10-year partnership agreement with technology innovator Polymateria, Indorama Ventures is applying Polymateria’s unique biotransformation technology to fibers and spunmelt nonwovens. Biotransformation is the world's first biodegradation technology that is capable of delivering full biological consumption of Polyolefin products in the open terrestrial environment. Polyolefin-based materials produced by this technology are especially useful for applications where materials may be leaked into the environment as unmanaged waste.

Indorama Ventures, in partnership with Polymateria, has been honoured with the INDA Innovation Award for their collaboration in developing pioneering Biotransformation technology to create wipes, which totally biodegrade, leaving no harmful substance or microplastics behind.

The award was presented at the recent World of Wipes International Conference in Atlanta, USA, and recognizes the level of technical innovation and investment that led to developing wipes that both deliver against the sustainability challenges of today while meeting the demands of Indorama Ventures’ customers worldwide.

Through its 10-year partnership agreement with technology innovator Polymateria, Indorama Ventures is applying Polymateria’s unique biotransformation technology to fibers and spunmelt nonwovens. Biotransformation is the world's first biodegradation technology that is capable of delivering full biological consumption of Polyolefin products in the open terrestrial environment. Polyolefin-based materials produced by this technology are especially useful for applications where materials may be leaked into the environment as unmanaged waste.

“We are constantly innovating to live up to our responsibility to optimize the Earth’s resources, as we combine nature and science in our Biotransformation PP - designed to be recycled or returned to nature,” he said. “By bringing Biotransformation technology to Hygiene markets, we hope to offer a real-world solution to waste management. We particularly hope to address aspects of the creation of fugitive waste and remove this from the environment without causing additional, and potentially more dangerous, problems.”

10.05.2023

Indorama Ventures reports improved quarterly earnings

  • 1Q23 Performance Summary
  • Revenue of US$4B, an increase of 3% QoQ and a decline of 9% YoY
  • Reported EBITDA of US$301M, an increase of 269% QoQ and decrease of 62% YOY
  • Operating cash flows of US$201M
  • Net Operating Debt to Equity of 1.00x
  • Reported EPS of THB 0.14

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, reported improved quarterly earnings as headwinds continue to ease from the previous quarter’s peaks, although still below normalized levels. The company continues to focus on enhancing its global competitiveness as the full benefit of China’s reopening spurs volumes through the year, and as volatile energy costs and the destocking trend by customers begin to normalize.

  • 1Q23 Performance Summary
  • Revenue of US$4B, an increase of 3% QoQ and a decline of 9% YoY
  • Reported EBITDA of US$301M, an increase of 269% QoQ and decrease of 62% YOY
  • Operating cash flows of US$201M
  • Net Operating Debt to Equity of 1.00x
  • Reported EPS of THB 0.14

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, reported improved quarterly earnings as headwinds continue to ease from the previous quarter’s peaks, although still below normalized levels. The company continues to focus on enhancing its global competitiveness as the full benefit of China’s reopening spurs volumes through the year, and as volatile energy costs and the destocking trend by customers begin to normalize.

Indorama Ventures achieved Reported EBITDA of $301 million in 1Q23, an increase of 269% QoQ and a decline of 62% YoY. Sales volumes dropped 8% YoY amid the heavy destocking trend that is impacting the chemical industry globally, although volumes rose 5% QoQ as the pace of destocking begins to slow from the peak in 4Q22. With China reopening from pandemic lockdowns and economic activity increasing, there has been marginal improvement in benchmark spreads, albeit below historical levels. In Europe, the warmer-than-expected winter contributed to lower energy prices and alleviated the cost pressures faced last year.

The Group reported an overall decline in Q1 earnings on a year-on-year basis as continued destocking by customers kept sales volumes below consumer consumption levels. CPET posted Reported EBITDA of $142 million, a 74% decrease YoY as sales volumes dropped 9%. Fibers segment achieved Reported EBITDA of $32 million, a decrease of 69% YoY as all three verticals reported declining sales. Integrated Oxides and Derivatives (IOD) segment posted a 4.4% growth in YoY Reported EBITDA to $128 million as volumes rose 4.4% YoY.

Source:

Indorama Ventures Public Company Limited

14.04.2023

Avgol® at INDEX™ 23

Avgol®, a manufacturer of high-performance nonwoven fabric solutions, will use this month’s INDEXTM exhibition in Switzerland to showcase how it has a laser focus on delivering against sustainability objectives to safeguard the future.

Together with its sister companies from Indorama Ventures Limited (‘IVL’), Avgol will be presenting biotransformation capable fibers, spunbond, meltblown and SMS for diversified end-use markets at the event. Avgol will present and be available to discuss with visitors how this developing technology and the company’s other related products can help businesses achieve their 2030 sustainability goals.

Avgol will also highlight the latest solutions since recently announcing its collaboration with Algaeing™. Avgol uses patented algae bio-based formulations for colorants in its products, combining a unique environmental solution for modifying the aesthetic qualities of materials with Avgol’s ongoing commitment to sustainable polyolefin based spunbond and meltblown fabrics.

Avgol®, a manufacturer of high-performance nonwoven fabric solutions, will use this month’s INDEXTM exhibition in Switzerland to showcase how it has a laser focus on delivering against sustainability objectives to safeguard the future.

Together with its sister companies from Indorama Ventures Limited (‘IVL’), Avgol will be presenting biotransformation capable fibers, spunbond, meltblown and SMS for diversified end-use markets at the event. Avgol will present and be available to discuss with visitors how this developing technology and the company’s other related products can help businesses achieve their 2030 sustainability goals.

Avgol will also highlight the latest solutions since recently announcing its collaboration with Algaeing™. Avgol uses patented algae bio-based formulations for colorants in its products, combining a unique environmental solution for modifying the aesthetic qualities of materials with Avgol’s ongoing commitment to sustainable polyolefin based spunbond and meltblown fabrics.

Source:

Avgol / PHD Marketing Ltd

10.03.2023

Indorama Ventures: FY22 financial performance

Indorama Ventures Public Company Limited (IVL) reported a record FY22 financial performance from the company’s global manufacturing footprint serving end-consumers’ resilient need for daily necessities. The unusually high level of customer destocking that weighed on the fourth quarter result is expected to have leveled out and business should return to normal operating conditions, with China’s reopening to further spur demand.

Indorama Ventures Public Company Limited (IVL) reported a record FY22 financial performance from the company’s global manufacturing footprint serving end-consumers’ resilient need for daily necessities. The unusually high level of customer destocking that weighed on the fourth quarter result is expected to have leveled out and business should return to normal operating conditions, with China’s reopening to further spur demand.

Full-year Core EBITDA climbed 31% YoY to $2.3 billion as revenue rose 28% to a record $18.8 billion. The company recorded strong cash flows of $2.2 billion, up 111% YoY. Indorama Ventures’ geographically diversified, integrated platform, backed by management’s agility, withstood unprecedented global events to generate earnings through the business cycle. During the year, the company continued to focus on its growth plan, successfully integrating its strategic surfactants business in Latin America and Vietnamese packaging acquisition. A dedicated senior team is working tirelessly and is committed to the company’s ‘Vision 2030’ sustainability goals including recycling technologies and introducing biomass feedstock to the company’s product portfolio. The ongoing ‘Project Olympus’ cost transformation program delivered an annual run rate of $449 million in efficiencies.

The annual result was impacted by an unusually challenging final quarter as fears of a recession and reduced transit times led to widespread destocking by customers. 4Q22 Core EBITDA declined 43% YoY to $264 million on a 1% drop in revenue to $3.9 billion. The pandemic lockdown in China also continued into the final quarter, reducing factory demand across Indorama Ventures’ portfolio and resulting in narrower margins from lower prices and higher costs. Higher energy and utility costs impacted European operations as the war in Ukraine continued into the winter.

To improve competitiveness and build resilience, Indorama Ventures rationalized underperforming assets in the Fibers business in Europe and a PTA site in Asia, resulting in a $7 million cash impairment in 4Q22 and a $253 million non-cash impact. As a result, the company looks forward to a $38 million uplift in EBITDA in 2023, reaching up to $65 million by 2025.

Source:

Indorama Ventures Public Company Limited

(c) Avgol
The Avgol nonwoven fabric, colored using Algaeing formulations, in production
10.02.2023

Avgol® showcases Algaeing™ bio-based colorants and fibers at FILTECH

Avgol®, a manufacturer of high-performance nonwoven fabric solutions, will use this month’s FILTECH exhibition in Germany to showcase its latest developments in using Algaeing™’s patented algae bio-based formulations for colorants and fibers.

Together with its sister companies from Indorama Ventures Limited (‘IVL’), Avgol will be presenting biotransformation capable fibers and meltblown for diversified end-use markets at the event from 14-16 February. Avgol will discuss with visitors how this new technology and the company’s biotransformative products can help businesses achieve their 2030 sustainability goals.

Algaeing’s technologies utilize various sustainably sourced, vertically farmed algae species to produce a wide range of appealing colors, many of which replicate the colors used in nonwoven fabrics today.

Avgol®, a manufacturer of high-performance nonwoven fabric solutions, will use this month’s FILTECH exhibition in Germany to showcase its latest developments in using Algaeing™’s patented algae bio-based formulations for colorants and fibers.

Together with its sister companies from Indorama Ventures Limited (‘IVL’), Avgol will be presenting biotransformation capable fibers and meltblown for diversified end-use markets at the event from 14-16 February. Avgol will discuss with visitors how this new technology and the company’s biotransformative products can help businesses achieve their 2030 sustainability goals.

Algaeing’s technologies utilize various sustainably sourced, vertically farmed algae species to produce a wide range of appealing colors, many of which replicate the colors used in nonwoven fabrics today.

“The benefits of using an algae bio-source go far beyond the removal of chemically synthesized colorants, and include synergistic benefits of vastly reduced water consumption, chemical and fertilizer use, and carbon dioxide emissions,” says Avgol CEO Tommi Bjornman. “We will be demonstrating to FILTECH visitors that following an extensive development path, the fibers both absorb and retain a range of colors - such as vibrant greens and blues – and that we can even deliver a ‘heathered’ appearance for a more natural looking material, all without affecting the filtration, barrier quality or feel of the final product.”

Source:

Avgol / PHD Marketing Ltd

30.12.2022

Avgol® announces new line investment at US facility

Avgol® has announced a significant investment in a new high-speed, high-capacity flexible multiple beam production line at its facility in Mocksville, USA.

Avgol, an Indorama Ventures Limited company, is a leader in the hygiene market with a comprehensive range of ultra-lightweight spun-melt nonwoven fabrics. This new, sixth line at the company’s facility in Mocksville will see Avgol investing in new Reicofil 5 (RF5) technology and underlines the company’s commitment to the region as a domestic supplier. The investment will deliver biocomponent and corresponding high-loft capabilities, with the line producing materials for applications that meet the needs of upper tier products for Hygiene customers.

As part of the investment, Avgol is also introducing extra capacity for meltblown production, ensuring a continuous supply of this critical material for both the region and customers worldwide.

Another aspect of the investment includes the addition of cutting-edge lamination capabilities, which enables Avgol to offer enhanced performance products into the existing markets the company serves, as well as to explore new opportunities in other markets.

Avgol® has announced a significant investment in a new high-speed, high-capacity flexible multiple beam production line at its facility in Mocksville, USA.

Avgol, an Indorama Ventures Limited company, is a leader in the hygiene market with a comprehensive range of ultra-lightweight spun-melt nonwoven fabrics. This new, sixth line at the company’s facility in Mocksville will see Avgol investing in new Reicofil 5 (RF5) technology and underlines the company’s commitment to the region as a domestic supplier. The investment will deliver biocomponent and corresponding high-loft capabilities, with the line producing materials for applications that meet the needs of upper tier products for Hygiene customers.

As part of the investment, Avgol is also introducing extra capacity for meltblown production, ensuring a continuous supply of this critical material for both the region and customers worldwide.

Another aspect of the investment includes the addition of cutting-edge lamination capabilities, which enables Avgol to offer enhanced performance products into the existing markets the company serves, as well as to explore new opportunities in other markets.

 

Source:

Avgol by Indorama Ventures Limited / PHD Marketing Ltd

(c) Avgol by Indorama Ventures Limited
30.12.2022

Avgol® wins Procter & Gamble Supplier Excellence Award

Avgol®, an Indorama Ventures Limited company, has been honoured with the Supplier Excellence Award by leading global brand Procter & Gamble.

The award was in recognition of Avgol, a leader in the manufacture of high-performance nonwoven fabric solutions, ‘being a notable and valuable supplier over the last fiscal year’ to the P&G Baby Care Business Unit.

Avgol CEO Tommi Bjornman said receiving the honour from P&G for the first time is a source of great pride for the company. “The assessment process for the award focuses on us as the supplier showing outstanding contributions across a range of key categories,” he said. “I am delighted and proud that the Avgol team was unanimously identified as being strongest in terms of our collaboration with the customer, as well as in our continuous improvement efforts across all regions of P&G’s global Baby Care program.

“It was heartening that, in making the award, P&G further noted that Avgol’s efforts have significantly assisted in their own commercial growth during a challenging period for the Hygiene market,” he said.

Avgol®, an Indorama Ventures Limited company, has been honoured with the Supplier Excellence Award by leading global brand Procter & Gamble.

The award was in recognition of Avgol, a leader in the manufacture of high-performance nonwoven fabric solutions, ‘being a notable and valuable supplier over the last fiscal year’ to the P&G Baby Care Business Unit.

Avgol CEO Tommi Bjornman said receiving the honour from P&G for the first time is a source of great pride for the company. “The assessment process for the award focuses on us as the supplier showing outstanding contributions across a range of key categories,” he said. “I am delighted and proud that the Avgol team was unanimously identified as being strongest in terms of our collaboration with the customer, as well as in our continuous improvement efforts across all regions of P&G’s global Baby Care program.

“It was heartening that, in making the award, P&G further noted that Avgol’s efforts have significantly assisted in their own commercial growth during a challenging period for the Hygiene market,” he said.

In 2018, Indorama Ventures Limited (IVL), a leading petrochemicals producer and global integrated leader in PET and fibres, acquired majority ownership of Avgol, resulting in a focused and faster growth of Avgol Nonwovens.

“With the combined financial, technical, commercial strength and expertise of Avgol and IVL, Avgol has been working hard to develop innovative products, putting sustainability front and centre in our plans for the future and ensuring we deliver the very best product and service to our customers around the world,” said Tommi Bjornman.

 

Source:

Avgol by Indorama Ventures Limited / PHD Marketing Ltd

(c) IVL
16.12.2022

Indorama Ventures listed in the Dow Jones Sustainability Indices

Indorama Ventures Public Company Limited (IVL) has been included as a member of the Dow Jones Sustainability World Index (DJSI World) for the fourth consecutive year, with a 96 percentile, and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the sixth successive year, with a 99 percentile. The achievement aligns with IVL's purpose of “reimagining chemistry together to create a better world.”

In 2022, S&P Global invited over 11,000 companies to participate in the Corporate Sustainability Assessment (CSA). Companies with outstanding results were then considered eligible for any DJSI. This year, there were 86 chemical companies that led the field in terms of sustainability and were eligible for the DJSI World, which tracks the performance of the top 10% of the 2,500 largest companies, and 34 chemical companies eligible for the DJSI Emerging Markets, which tracks the performance of the top 10% of the 800 largest Emerging Markets companies. Out of which, IVL is among only 10 chemical companies in the DJSI World and only 3 chemical companies in the DJSI Emerging Markets.

Indorama Ventures Public Company Limited (IVL) has been included as a member of the Dow Jones Sustainability World Index (DJSI World) for the fourth consecutive year, with a 96 percentile, and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the sixth successive year, with a 99 percentile. The achievement aligns with IVL's purpose of “reimagining chemistry together to create a better world.”

In 2022, S&P Global invited over 11,000 companies to participate in the Corporate Sustainability Assessment (CSA). Companies with outstanding results were then considered eligible for any DJSI. This year, there were 86 chemical companies that led the field in terms of sustainability and were eligible for the DJSI World, which tracks the performance of the top 10% of the 2,500 largest companies, and 34 chemical companies eligible for the DJSI Emerging Markets, which tracks the performance of the top 10% of the 800 largest Emerging Markets companies. Out of which, IVL is among only 10 chemical companies in the DJSI World and only 3 chemical companies in the DJSI Emerging Markets.

IVL's consistently high ranking in DJSI is driven by the company's ambition to build its industry leadership in sustainability. Under Vision 2030, IVL is committed to reducing GHG intensity by 30% and increasing renewable electricity consumption to 25%. This year, IVL also committed to setting science-based targets through the Science Based Targets Initiative (SBTi). The company also participates in the SBTi Expert Advisory Group for the chemicals industry and provides funding for developing chemical sector decarbonization solutions.

Source:

Indorama Ventures Public Company Limited

02.12.2022

Indorama Ventures signs ESG-Linked Revolving Credit Facility

Indorama Ventures Public Company Limited (IVL) has signed an ESG-Linked Revolving Credit Facility of €275 million with six syndicate banks, a further boost to the company’s long-standing commitment to sustainability-led corporate financing.

Tied to IVL’s ESG risk rating, the revolving credit facility’s pricing mechanism results in margin adjustments related to management score improvements across the Material ESG Issues as defined by independent sustainability and corporate governance research firms. The facility is available to IVL subsidiaries in Europe for two-years with the option to extend for one more year.

Indorama Ventures Public Company Limited (IVL) has signed an ESG-Linked Revolving Credit Facility of €275 million with six syndicate banks, a further boost to the company’s long-standing commitment to sustainability-led corporate financing.

Tied to IVL’s ESG risk rating, the revolving credit facility’s pricing mechanism results in margin adjustments related to management score improvements across the Material ESG Issues as defined by independent sustainability and corporate governance research firms. The facility is available to IVL subsidiaries in Europe for two-years with the option to extend for one more year.

The facility is part of IVL’s corporate financing strategy across a range of instruments linked to the company’s ESG and sustainability commitments. In November 2021, the company issued a THB 10 billion triple-tranche Sustainability-Linked Bond (SLB), the largest SLB issued in Thailand. IVL is on track to achieve its 2025 ESG goals. More ambitious 2030 targets include a 30% reduction in Scope 1 & 2 combined greenhouse gas (GHG) intensity, 15% reduction in energy intensity, 25% use of renewable electricity, 20% reduction in water intensity, 90% diversion of waste from landfill, recycle 1.5 million tons in PET bale input annually.

 

 

Source:

Indorama Ventures Public Company Limited

(c) Indorama Ventures Public Company Limited
22.11.2022

Indorama Ventures’ Deja™ brand named winner of the Best Sustainable Product Award

Indorama Ventures Public Company Limited (IVL) has been named winner of the Best Sustainable Product Award at the Chemical Week Sustainability Awards 2022. The award was for IVL’s DejaTM Carbon Neutral pellets, a carbon-neutral virgin polyethylene terephthalate (PET) resins, helping to reduce environmental impact.

The Deja™ brand covers carbon neutral virgin and recycled PET resins and a range of recycled PET (rPET) products, including flakes, resins, fibers, and yarns. It provides IVL’s global customers with a range of high-performance applications, including packaging, lifestyle, automotive, apparel, and medical equipment. The solutions help environmentally conscious companies meet their sustainability goals.

IVL has set ambitious 2025 and 2030 targets, which shall be met through its six-pronged decarbonization strategy, including energy transition, improving operational efficiency, circular feedstock, and future technologies. The company also has a goal to recycle 100 billion PET bottles annually by 2030.

Indorama Ventures Public Company Limited (IVL) has been named winner of the Best Sustainable Product Award at the Chemical Week Sustainability Awards 2022. The award was for IVL’s DejaTM Carbon Neutral pellets, a carbon-neutral virgin polyethylene terephthalate (PET) resins, helping to reduce environmental impact.

The Deja™ brand covers carbon neutral virgin and recycled PET resins and a range of recycled PET (rPET) products, including flakes, resins, fibers, and yarns. It provides IVL’s global customers with a range of high-performance applications, including packaging, lifestyle, automotive, apparel, and medical equipment. The solutions help environmentally conscious companies meet their sustainability goals.

IVL has set ambitious 2025 and 2030 targets, which shall be met through its six-pronged decarbonization strategy, including energy transition, improving operational efficiency, circular feedstock, and future technologies. The company also has a goal to recycle 100 billion PET bottles annually by 2030.

Chemical Week Sustainability Awards recognize the industry's best efforts in addressing financial, operational, and strategic challenges by focusing on ESG and sustainable product development. The awards were assessed by S&P Global, the world's leading credit rating agency, and a panel of experts from various companies across the chemical industry's value chain.

10.11.2022

Indorama Ventures: Resilient YTD earnings in 3Q22

  • Last twelve months (LTM) Core EBITDA of US$2.5B, an increase of 60% YoY
  • Core EBITDA per ton of US$163 in LTM3Q22 and US$159 in 3Q22
  • Operating cash flow of US$1,952 in LTM3Q22, an increase of 59% YoY
  • 3Q22 Core Net Profit of THB 10.34B and Reported Net Profit of THB 8.14B

Indorama Ventures Public Company Limited (IVL) reported a resilient year-to-date performance and increasing earnings in a challenging macroeconomic environment.

IVL posted Core EBITDA of US$606 million in 3Q22, a 39% increase YoY and a decline of 20% QoQ as the strong tailwinds that drove record earnings into 2022 began to normalize in the third quarter.  

  • Last twelve months (LTM) Core EBITDA of US$2.5B, an increase of 60% YoY
  • Core EBITDA per ton of US$163 in LTM3Q22 and US$159 in 3Q22
  • Operating cash flow of US$1,952 in LTM3Q22, an increase of 59% YoY
  • 3Q22 Core Net Profit of THB 10.34B and Reported Net Profit of THB 8.14B

Indorama Ventures Public Company Limited (IVL) reported a resilient year-to-date performance and increasing earnings in a challenging macroeconomic environment.

IVL posted Core EBITDA of US$606 million in 3Q22, a 39% increase YoY and a decline of 20% QoQ as the strong tailwinds that drove record earnings into 2022 began to normalize in the third quarter.  

Strategic acquisitions, including Oxiteno, are bolstering IVL’s increasingly diverse geographic footprint and product portfolio, supporting earnings through volatile economic conditions. Revenue declined 10% QoQ in 3Q and grew 27% YoY as Combined PET, the largest business segment, saw steady volumes through the year, and new portfolio additions performed strongly, such as surfactants in the Integrated Oxides and Derivatives segment. With more than 70% of IVL’s platform catering to consumer daily necessities, demand remains stable.

Fibers segment posted YTD Core EBITDA of $189 million, a rise of 2% YoY. 3Q Core EBITDA increased 2% YoY, and decreased of 11% QoQ, to US$49 million. The Lifestyle fibers business continues to be impacted by the lockdown in China, while management in the Hygiene and Mobility verticals in Europe are effectively managing high energy costs.

Combined PET (CPET) segment achieved YTD Core EBITDA of US$1,192 million, an increase of 42% YoY. Core EBITDA in 3Q22 rose 27% YoY to US$327 million, and declined 24% QoQ, as business remained steady across operations apart from in Europe where peak energy prices continue to put pressure on demand and margins.

D K Agarwal, CEO of Indorama Ventures, said, “We are pleased with our performance across the business cycle. Our management is working hard to extract the advantages that we enjoy in terms of geographic leadership, product diversity, and an unmatched customer base of global household brands. Together with our habitual lens on cost management, these actions will help us to weather the economic challenges and continue to focus on our long-term potential.”

Source:

Indorama Ventures Public Company Limited 

Photo: Indorama Ventures Limited
12.10.2022

Indorama Ventures: New plant for nylon yarn

  • Collaboration between Indorama Ventures and Toyobo to meet growing global demand for airbags
  • Newly completed plant in Thailand will supply high-performance nylon yarn to customers in the automotive safety sector

Indorama Ventures Public Company Limited (IVL) celebrated the completion of a plant to manufacture high-performance nylon yarn for automobile airbags. The new plant in Rayong, Thailand, was constructed by Toyobo Indorama Advanced Fibers Co., Ltd. (TIAF), a joint venture that Indorama Ventures established with Toyobo Co., Ltd in November 2020.

The plant, which has been built on the site of Indorama Polyester Industries PCL (IPI) in Rayong Province, will deliver 11,000 tons of high-performance yarn per year to meet global demand for airbags that is expected to grow by 3 percent to 4 percent annually as automakers equip vehicles with more airbags and emerging economies require cars to adopt more safety features. Test production is scheduled to start in October 2022 with the goal of starting commercial production in the middle of 2023.

  • Collaboration between Indorama Ventures and Toyobo to meet growing global demand for airbags
  • Newly completed plant in Thailand will supply high-performance nylon yarn to customers in the automotive safety sector

Indorama Ventures Public Company Limited (IVL) celebrated the completion of a plant to manufacture high-performance nylon yarn for automobile airbags. The new plant in Rayong, Thailand, was constructed by Toyobo Indorama Advanced Fibers Co., Ltd. (TIAF), a joint venture that Indorama Ventures established with Toyobo Co., Ltd in November 2020.

The plant, which has been built on the site of Indorama Polyester Industries PCL (IPI) in Rayong Province, will deliver 11,000 tons of high-performance yarn per year to meet global demand for airbags that is expected to grow by 3 percent to 4 percent annually as automakers equip vehicles with more airbags and emerging economies require cars to adopt more safety features. Test production is scheduled to start in October 2022 with the goal of starting commercial production in the middle of 2023.

In 2014, Indorama Ventures and Toyobo jointly acquired Germany’s PHP Fibers GmbH, a leading airbag yarn maker. Since then, both companies have strengthened their relationship with a focus to expand in the automotive safety sector. Mr Christopher Kenneally, based in Bangkok, leads IVL’s Fibers segment, which produces fibers and yarns across its Hygiene, Mobility and Lifestyle verticals. Mr Ashok Arora, with over 30 years of experience in fibers and polymer operations, will helm TIAF as CEO while maintaining his role as CTO with IVL Fibers.

Source:

Indorama Ventures Limited

10.08.2022

Indorama Ventures' Results for 2Q22: Fibers segment -35% QoQ

  • Record Revenue of US$5,451M, an increase of 23% QoQ and 53% YoY
  • Record Reported EBITDA of US$1,010M, up 29% QoQ and 83% YoY
  • Reported Net Profit of THB 20.3B, an increase of 44% QoQ and 143% YoY.
  • Reported EPS of THB 3.58 (LTM2Q22: 8.11) and Core EPS of THB 2.32 (LTM2Q22:6.16)

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, reported record 2Q22 earnings as the company’s global integrated model continues to benefit from strong consumer trends and management responded effectively to market disruptions.

IVL posted a record Core EBITDA of US$758 million in the second quarter, up 17% QoQ and 59% YoY. Sales revenue rose by about 11% QoQ on a same-store basis, supporting a Core EBITDA margin of 14%. The combination of strong sales and improved margins helped offset higher energy costs in the U.S. and Europe, while management leveraged the company’s leading position in local and regional markets to ensure uninterrupted customer service levels as higher crude oil prices impacted raw materials costs.

  • Record Revenue of US$5,451M, an increase of 23% QoQ and 53% YoY
  • Record Reported EBITDA of US$1,010M, up 29% QoQ and 83% YoY
  • Reported Net Profit of THB 20.3B, an increase of 44% QoQ and 143% YoY.
  • Reported EPS of THB 3.58 (LTM2Q22: 8.11) and Core EPS of THB 2.32 (LTM2Q22:6.16)

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, reported record 2Q22 earnings as the company’s global integrated model continues to benefit from strong consumer trends and management responded effectively to market disruptions.

IVL posted a record Core EBITDA of US$758 million in the second quarter, up 17% QoQ and 59% YoY. Sales revenue rose by about 11% QoQ on a same-store basis, supporting a Core EBITDA margin of 14%. The combination of strong sales and improved margins helped offset higher energy costs in the U.S. and Europe, while management leveraged the company’s leading position in local and regional markets to ensure uninterrupted customer service levels as higher crude oil prices impacted raw materials costs.

Fibers segment posted Core EBITDA of US$55 million, a decrease of 35% QoQ and 15% YoY, as sales declined 11% QoQ. The segment was impacted by lower demand in the Lifestyle vertical amid the China lockdown while higher freight rates restricted exports. The Hygiene vertical was impacted by volumes at Avgol’s Russia site along with increased polypropylene prices, while strength in the replacement tires market partially offset the ongoing semiconductor shortage, resulting in a stable performance for Mobility.

Source:

Indorama Ventures Public Company Limited

19.07.2022

IVL: Corpus Christi Polymers plant in Texas resumes construction

Indorama Ventures Public Company Limited (IVL) announced that construction of an integrated PTA-PET plant in Corpus Christi, Texas, will resume in August this year. Corpus Christi Polymers LLC (CCP), a partnership between three companies, is expected to begin production in 2025 and ensure continued cost-competitive production to support the growth of IVL’s global PET operations into the next decade.

CCP was formed in 2018 as a joint venture between Indorama Ventures Corpus Christi Holdings LLC, a subsidiary of Indorama Ventures; DAK Americas LLC, a subsidiary of Alpek S.A.B. de C.V.; and APG Polytech USA Holdings, Inc, a subsidiary of Far Eastern New Century, following the purchase of a partially constructed facility of M&G Resins in Corpus Christi. Each partner will procure its own raw materials and receive one third of the PTA and PET produced at the facility to sell and distribute independently.

Indorama Ventures Public Company Limited (IVL) announced that construction of an integrated PTA-PET plant in Corpus Christi, Texas, will resume in August this year. Corpus Christi Polymers LLC (CCP), a partnership between three companies, is expected to begin production in 2025 and ensure continued cost-competitive production to support the growth of IVL’s global PET operations into the next decade.

CCP was formed in 2018 as a joint venture between Indorama Ventures Corpus Christi Holdings LLC, a subsidiary of Indorama Ventures; DAK Americas LLC, a subsidiary of Alpek S.A.B. de C.V.; and APG Polytech USA Holdings, Inc, a subsidiary of Far Eastern New Century, following the purchase of a partially constructed facility of M&G Resins in Corpus Christi. Each partner will procure its own raw materials and receive one third of the PTA and PET produced at the facility to sell and distribute independently.

Construction of the plant is resuming following a period of pandemic-related disruptions. Through the pandemic, the partners firmly resolved to continue planning amid continued robust demand for PET packaging and the need for shorter supply chains. As the impact of the pandemic eased in 2022, the management team was strengthened in preparation for the resumption in activities.

CCP is expected to be the largest vertically integrated PTA-PET production plant in the Americas, and IVL’s biggest greenfields project in the U.S. since the development of the AlphaPet production facility at Decatur, Alabama in 2009. The new Texas facility is a significant addition to IVL’s leading global footprint, and will expand its coverage to customers across the U.S. The plant’s vertical integration optimizes PTA-PET production and, together with the availability of raw materials Paraxylene and Mono Ethylene Glycol in the U.S., ensures long-term competitive-cost supply for IVL’s locally integrated polyester value chain.

The facility will have nominal annual capacities of 1.1 million metric tons of PET and 1.3 million metric tons of PTA, shared between the partners. It will employ three state-of-the-art technologies: PTA: IntegRex®, PET melt: Invista, and PET solid state: Easy Up (HCIRR – Horizontal Continuous slightly Inclined Rotary Reactor).

CCP is adding to its leadership team to prepare for the new growth opportunities. Mr Russell Wilson will leave his role with IVL as Head of Manufacturing Americas, Combined PET, to take up a new role as Chief Executive Officer of CCP from 18 July. He brings 30 years of Aromatics and PET leadership experience including prior roles with Amoco and BP before joining IVL. Mr Todd Hogue, IVL’s Global Head of EH&S, replaces Mr Wilson as IVL’s representative on CCP’s Board. Mr Michael Day joined CCP as Project Director in June and brings 34 years of construction leadership experience including senior roles with Bilfinger, KBR, and CB&I.  Mr Jeff Shea will assume the role of Chief Operating Officer on 18 July.  Mr Shea has been in the PET industry for the last 22 years and has managed PET sites for the last 17. 

Source:

Indorama Ventures Public Company Limited

(c) Indorama Ventures PCL
21.06.2022

Indorama Ventures works with Auping and TWE Group to deliver a fully circular mattress

The sustainable collaboration and innovation between Indorama Ventures (IVL), Auping and TWE Group presented a certified cradle to cradle process for mattress components across nonwoven applications, at Techtextil, Frankfurt, 21st to 24th June 2022.

Using circular research and design, the industry partnership between IVL Mullagh (Ireland), Auping and TWE Group has resulted in a perpetual, sustainable economic business model, for manufacturers globally. The inclusion of safe raw materials within mattress manufacturing allows the materials to be easily disassembled at the product’s end of use in order to be further reused as same components or recycled into new raw material at the same quality level, to enable versatile textile applications.

The sustainable collaboration and innovation between Indorama Ventures (IVL), Auping and TWE Group presented a certified cradle to cradle process for mattress components across nonwoven applications, at Techtextil, Frankfurt, 21st to 24th June 2022.

Using circular research and design, the industry partnership between IVL Mullagh (Ireland), Auping and TWE Group has resulted in a perpetual, sustainable economic business model, for manufacturers globally. The inclusion of safe raw materials within mattress manufacturing allows the materials to be easily disassembled at the product’s end of use in order to be further reused as same components or recycled into new raw material at the same quality level, to enable versatile textile applications.

Designed for disassembly to optimize the use of existing resources, reduce carbon footprint and support customer objectives all along their customers’ supply chain. This circular industry collaboration begins with design, where the mattress is constructed using only two different base materials, 100% PET polyester textiles and steel wire pocket springs connected with Niaga®️, a non toxic reversible adhesive, making the mattress easy to disassemble and recover.

IVL, Auping and TWE’s shared vision for a better world is demonstrated through their connected and innovative circularity that helps to close the loop. Auping collects, sorts and separates the collected fabrics, which then go to IVL Mullagh for processing, melting and extrusion to form polyester staple fiber. These staple fibers are then converted by TWE Group into nonwovens for use in Auping’s Evolve mattress, a fully circular mattress. Following the end of mattress use, the material recovery process simply starts again.

Auping estimates that annually more than 40 million mattresses are disposed of in Europe alone, the majority of which are incinerated. Their take back system in the Netherlands ensures that when their new mattress is delivered, the old mattress is retrieved and recycled, irrespective of the brand, ensuring existing materials are continually optimized, diverted from landfill and kept in use to achieve a circular economy.

Source:

Indorama Ventures PCL