Indorama Ventures is buying Brazil-based M&G Polimeros. M&G Polimeros produces PET resins for packaging applications. The plant is the largest PET facility in Brazil, with a capacity of 5,50,000 tons a year. The plant is strategically located and benefits from virtual integration with a manufacturer of Purified Terephthalic Acid (PTA), a key feedstock to PET.

Indorama is a petrochemical producer. The acquisition in Brazil is in line with the company’s strategy to further extend its market position and expand its global footprint in key markets with high growth potential. This strategic position allows Indorama Ventures to deliver products to key customers in Brazil and elsewhere in a cost-effective and efficient manner.

Indorama Ventures is well positioned to service its current global client base and M&G’s existing customers once this acquisition is complete and the plant is fully operational. The company expects immediate incremental revenues and cost synergies, driven by a substantial volume increase and potential value add through backward integration.

The acquisition will significantly advance Indorama’s strategy in its necessities business, where the company aims to deepen its global footprint and build scale in key markets.

Indorama now has unrivalled scale and global reach, being present in five continents with a uniquely balanced and integrated business model.