Indorama Ventures acquires DuPont Teijin Films
DuPont Teijin makes high-end PET films, as well as polymers, used for solar panels and medical equipment.
October 11, 2017 by Canadian Plastics
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.