Indorama Ventures has bought Invista Resins and Fibers.

The acquisition is aligned with IVL’s strategy to grow and support customers’ needs with differentiated solutions in both packaging and in industrial fibers. It provides Indorama with competitive advantages, obtaining the intellectual property rights of Polyshield and Oxyclear, Invista’s barrier technology, in all markets globally.

Polyshield and Oxyclear brands are known for their oxygen barrier packaging, mainly used by the food and beverage industry, to extend the shelf life of juice, wine, beer, diary as well as ketchup.

Indorama Ventures is a chemical producer. With additional tailwinds from strong volumes and industry supply tightness, due to financial problems being faced by certain competitors in Europe and America, the company has further grown its top line and margins. Meaningful developments in the PTA and PET businesses, the announced capital expenditure programs and the newly acquired businesses will all play a meaningful role in enhancing earnings growth in 2019 and beyond. Its strong performance demonstrates the resilience of its business portfolio, and the benefits of its uniquely diversified and integrated business model, which are clearly bearing fruit with increasing momentum.

The company is ranked among the top five chemical companies globally. The goal is to double ebitda every five years.