DTF produces Biaxially-oriented Polyethylene Terephthalate (BOPET) and Polyethylene Naphthalate (PEN) films with a film/polymer capacity of 277,000 tonnes a year.
Global Innovation Center
The acquisition includes eight production assets in the US, Europe and China, with a global innovation center in the UK.
Aloke Lohia, Group CEO, Indorama Ventures chemical company said the acquisition marks a new chapter for IVL.
The global BOPET film industry has expanded rapidly and there are increasing applications and end-uses, he said.
“DTF provides prudent growth in an industry related to our core businesses and is a strong foundation for future growth,” added Lohia.
“DTF has a strong history of R&D with over 700 patents, which makes it a strategic fit with our own innovation capabilities.”
According to IVL, the global consumption of BOPET is expected to increase at an average rate of about 7% CAGR per annum.
Through the acquisition, IVL will further enhance PET integration through NDC, a specialty chemical used in high performance polymers and films. (IVL is the world’s only commercial manufacturer of NDC).
DuPont Teijin Films (DTF), a joint venture between DuPont and Teijin Ltd, produces BOPET and PEN polyester film and specializes in film products for the specialty, industrial and packaging sector, among others.
Included in the transaction are manufacturing and R&D operations associated with four joint ventures (JV) in the US, UK, Luxembourg, and Hong Kong (DTFC), which includes two JVs in China (51%), sales and technical capabilities, intellectual property, licenses and Melinex (durable cards) and Mylar (peelable lids for berries, fresh cut fruit and prepared salads).