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Shima Seiki
Shima Seiki

4th February 2020, Bangkok

IVL announces corporate strategy for 2020-2023

Mr. Aloke Lohia, Group CEO of Indorama Ventures. © Indorama Ventures.

Mr. Aloke Lohia, Group CEO of Indorama Ventures. © Indorama Ventures.

Indorama Ventures (IVL) has announced it corporate strategy for the period 2020-2023. The company summarised in a press statement earlier today:

“IVL’s time-tested approach has generated strong returns for stakeholders through both the peaks and valleys of the chemical cycle. We have a well-articulated 2023 strategy focusing on 5 pillars: Cost Transformation via Olympus, Asset Full Potential, Adjacency Growth, Recycling Leadership, and our People.”

“In combined PET, we aim to strengthen our cost advantage while also driving the circular economy for PET by building a leading recycling business. In Fibers, we are focused on operation efficiency, asset integration, and innovation to meet customer’s evolving needs, resulting in a business that delivers double-digit ROCE.”

“Our aggregated business continue to generate heathy operating cash flow, we continue to focus on working capital while simultaneously deleveraging the balance sheet. We continue to invest in our people, put in place organization and governance structures and HR processes to ensure we have a healthy IVL for the future.”

Mr. Aloke Lohia, Group CEO of Indorama Ventures, commented: “Going forward, IVL will continue to pursue our strategic themes, with the ambition of achieving double-digit ROCE, strong cash flows across the cycle and above average returns to shareholders. Historically, we have always remained strong through the peaks and troughs of the chemical cycle and expect to continue to outperform thanks to our highly experienced and professional management team.”

The strategy was presented and agreed at IVL’s Global Management Conference (GMC), which includes over 200 members of IVL’s global leadership team, and was held 30-31 January in Bangkok, Thailand.

Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB), is one of the world’s leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia Pacific, Europe and Americas.  The company’s portfolio comprises Integrated PET, Olefins, Fibers, Packaging and Specialty Chemicals. Indorama Ventures products serve major FMCG and automotive sectors, i.e. beverages, hygiene, personal care, tire and safety segments. Indorama Ventures has approx. 24,000 employees worldwide and consolidated revenue of US$ 10.7 billion in 2018. The Company is listed in the Dow Jones Emerging Markets and World Sustainability Indices (DJSI).

Indorama Ventures is headquartered in Bangkok, Thailand with global operating sites in EMEA: The Netherlands, Germany, Ireland, France, UK, Italy, Denmark, Lithuania, Poland, Czech Republic, Luxembourg, Spain, Turkey, Nigeria, Ghana, Portugal, Israel, Egypt, Russia, Slovakia, Austria, Bulgaria, Americas:          USA, Mexico, Canada, Brazil, Asia Pacific: Thailand, Indonesia, China, India, the Philippines, Myanmar, Australia

www.indorama.net

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