Indorama Ventures plans to expand its US polyethylene terephthalate operations by adding a 540,000 mt/year facility by the fourth quarter of 2015, the company said Thursday.
A company source said Indorama is still in the process of determining where the new plant will be located, but once online, it will push the company's North American capacity to nearly 2.1 million mt/year. The move was approved by the company's board of directors on Wednesday.
"The plant will take advantage of expected growth in North America while maintaining a low cost structure and will therefore be accretive to the bottom line," the company said in a statement.
Indorama currently operates the 438,000 mt/year AlphaPet plant in Decatur, Alabama; the 387,000 mt/year Auriga facility in Spartanburg, South Carolina; the 225,000 mt/year StarPet PET facility in Asheboro, North Carolina; and a 478,000 mt/year facility in Queretaro, Mexico.
Also Wednesday, Indorama decided to carry out significant debottlenecking at its Wlocawek site in Poland instead of setting up a new line, it said. The Polish site has a current capacity of 153,000 mt/year.
