Bangkok-based Indorama Ventures, in its pledge to constantly evolve its portfolio and technologies, is planning to put in US $ 35 million in its Spartanburg County subsidiary, Auriga Polymers Inc., (acquired by Indorama in 2011), which produces polyester resins and specialty polymers used in bottles, sheets, textile applications, etc.
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It is assumed that the US $ 35 million investment will enhance the production capacity of Indorama Ventures’ subsidiary. The company would install an extruder system and add 15,000 tonnes of extrusion-based fibre spinning capacity. Tom Brekovsky, VP – Polymers and Fibres, Auriga Polymers Inc. said that the additional capacity will improve Indorama Ventures’ subsidiary’s market position to better back its customers in the current scenario of growing demand for specialty materials in all sectors of the nonwovens marketplace. It is further informed that the investment will not only improve productivity, but will also mark an increase in state-of-the-art machinery and equipment at the company.
Indorama Ventures Public Company Limited is one of the world’s leading petrochemical producers and a leading global manufacturer of wool yarns. With a workforce of more than 12,000 people across 60 locations in 19 countries for petrochemical production and the manufacture of PET resins, fibres, filaments and wool yarns, Indorama Ventures has expanded its PET and polyester businesses in recent years. The company has its reach in the four major regions of the world – Asia Pacific, Europe, North America, and Africa. Its portfolio is comprised of Necessities and High Value-Added (HVA) categories of polymers, fibres, and packaging. Whereas Indorama Ventures’ subsidiary, Auriga Polymers has the potential to produce 71,000 tonnes of polyester fibres and 387,000 tonnes of PET per year from its South Carolina operations, and maintains business and administrative offices in Charlotte.
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