Indorama Ventures acquires DuPont Teijin Films

Thailand’s Indorama Ventures, one of the world’s largest PET resin makers, is buying DuPont Teijin Films, a joint venture between U.S. group Dow DuPont and Japan’s Teijin.

The purchase price has not been disclosed.

DuPont Teijin makes high-end PET films, as well as polymers, used for solar panels and medical equipment. The firm has a total annual capacity of 277,000 tons.

The acquisition will include eight production facilities in the U.S., Europe and China, along with a research and development centre in the U.K. The sites in question are currently run by four companies; Indorama’s subsidiary in the Netherlands is to acquire 100 per cent of all four by early 2018.

Indorama makes films in the U.S. but is more focused on low-cost products, such as food packaging. In a statement, Indorama CEO Aloke Lohia described the deal as “a new chapter” for the company, as it will be “the next step in creating a leading position for customer solutions in films.”

The transaction is expected to be completed during late 2017 or early 2018.