<article><a href="http://www.indorama.net/" target="_blank">Indorama Ventures Pcl (IVL)</a>, one of the world’s largest integrated polyester product maker, is setting up two joint-venture (JV) companies in Mexico, the company informed the Stock Exchange of Thailand (SET), today.</article>

<a href="http://www.indorama.net/" target="_blank">Indorama Ventures Pcl (IVL)</a>, one of the world’s largest integrated polyester product maker, is setting up two joint-venture (JV) companies in Mexico, the company informed the Stock Exchange of Thailand (SET), today.
One of the two JVs is Indorama Ventures Ecomex S de R L de CV, which will be producing PET Recycled Flake. The other joint venture is Indorama Ventures EcoMex Services S de R. Lde CV, which will be providing administrative services.
In both of the JV companies, IVL Holding S de R L de CV, an indirect subsidiary company of IVL, holds 51 per cent stake while the other 49 per cent is held by Mario Martinez Barone.
In addition, M&amp;M Polymers SA de CV, controlled by Martinez, is already a supplier of PET flakes to IVL, in Mexico. With this investment, it would get partially integrated in house produced flakes for its recycled PET.
This is in line with the company&#8217;s strategy to promote sustainability through recycling and reducing waste. IVL is determined to go global and has allocated a $6 billion budget for 2015-19, excluding the investment for mergers and acquisitions.
IVL shares closed Friday on the SET at 20.50 baht, staying flat from the opening price.

Thailand's Indorama sets up 2 JVs in Mexico

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Thailand's Indorama sets up 2 JVs in Mexico

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief