DOCSLIB.ORG

Responsible and Effective Governance

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Responsible and Effective Governance HOME Corporate Governance and Compliance Management Board of Directors Effective governance at IVL and its subsidiaries relies Directly assisting the Board are three Committees - upon a strong focus on business growth and having an the Audit Committee, Nomination, Compensation and experienced and high-caliber Board of Directors. Corporate Governance (NCCG) Committee and Our Board oversees IVL’s entire business portfolio and Sustainability & Risk Management Committee (SRMC). ensures adherence to our vision, mission, strategies, These committees ensure that strong governance policies and budgets, as well as national and processes are in place across areas such as risk international laws. The Board typically meets every management, financial reporting, compliance, audit three months, with additional meetings convened and control, the Code of Conduct and sustainability- when necessary. The meetings provide an opportunity related strategies, risks and opportunities. to review IVL’s operations and discuss financial issues, plans and other matters. For More Information 12.5% Non-Executive Directors 50% Independent 16 Directors Directors on the IVL Board 37.5% 12.5% Executive Directors Female Directors In 2020, the Board was comprised of 16 directors who internal controls and audits drive continuous RESPONSIBLE met on seven occasions, during which they approved improvements, and risks and opportunities the company’s financial statement and SRMC Charter. are leveraged. We also engage regularly and AND EFFECTIVE For more information on key deliberations and Board comprehensively with our wider stakeholders. meeting attendance, please refer to pgs. 150 and 166 Internal policies shape our interactions and are GOVERNANCE of our 2020 Annual Report. supported by tools such as feedback surveys through our supply chain, grievance mechanisms Our responsive, two-way reporting lines through and employee training outcomes. Outputs from these senior management teams to the executive teams interactions are consolidated and reported to and Board ensure that corporate targets are met, the relevant business leaders for action and follow-up. Capitals Linked in this Chapter Value Created With strong and robust governance mechanisms, Key Deliberations Actions Taken by the Board we generate sustained growth benefiting Strategy and Annual Business Plan meeting • Vision and mission statement is reviewed. the organization and key stakeholders throughout • Company strategy is reviewed. our value chain including our customers and • Opportunity for the Board to interact with the respective executives. suppliers. • Where necessary, suggestions are made by the Board. Intellectual Capital Social and Financial (Organizational) Relationship Capital Capital Annual review of the Evaluation Form on • Evaluate the efficacy and sufficiency of the Company’s internal controls. the Sufficiency of Internal Control Systems • Initially reviewed by the Audit Committee and forwarded to the Board. Indorama Ventures PCL. Sustainability Report 2020 42 Vision - To be a world-class sustainable chemical company making great products for society. 43 HOME In 2020, Mrs. Kaisri Nuengsigkapian was appointed to the recommendation of the NCCG Committee. At the 1 1 the Board as an Independent Director at the IVL Annual end of each year, their performance is evaluated against Employment Disputes 1 2 General Meeting (AGM) in June 2020, in line with our the KPIs forming the criteria for their compensation Health and Safety 1 diversity and equality agenda. Mrs. Nuengsigkapian is evaluation. 20 Human Rights - Discrimination the second female director and the first female Cases Human Rights - Harassment/Hostile Behavior Independent Director of the Company. Other changes Having operations in multiple countries and jurisdictions 2 2 Received through Human Rights - Unfair Termination to the Board in 2020 included the departure of increases the risk of non-compliance, which is a major Whistleblower Conflict of Interest Mr. Maris Samaram who withdrew from re-election concern. Through a top-down approach, the Audit Reporting Channels Potential Violation of the Law due to non-eligibility related to the retirement age Committee, NCCG Committee, SRMC and senior Transparency criteria defined for independent directors. management continue to advise all concerned on emerging risks and compliance requirements. 7 * Another three cases were not considered as whistleblower cases. Key Performance Indicators (KPIs) are set by the Board The Company also has in place a robust grievance More detail is given in the Annual Report 2020 pg.159. for the Group CEO and other executive directors on system through its Whistleblower Policy. Enhancing Our Whistleblowing Channels To further improve our Whistleblower capabilities, This website streamlines communication more 2020 Highlights in 2019, we launched a standalone website, efficiently between the whistleblower and the As of December 31, 2020, there was no material litigation against IVL whistleblower.indoramaventures.com, which offers Whistleblower Committee. The Whistleblower or our subsidiaries that had a negative effect on our assets exceeding more convenience, is easier to use and acts as a Committee guarantees total confidentiality and no IVL received an “Excellent - 5 Star” 5% of shareholder equity. There was also no litigation that had consolidated portal for any concerns that are raised. actions will ever be taken against whistleblowers. CG score by the Thai Institute a significant effect on our business. of Directors (IOD) for the eighth consecutive year. During the reporting period in 2020, there was: Business Ethics, Integrity and Transparency • No case of material non-compliance. • No material cases or incidents of corruption or bribery; Business Ethics Mechanisms at IVL no employee, contractor or supplier was dismissed; and The Nomination, Corporate no contract with any business partner was terminated due to Compensation The Governance Policy IVL was one of the recipients allegations of corruption. The Audit Site/Human of the Asset Class PLC award Committee and Corporate Whistleblower Awareness Resource Heads Employees for the 2019 ASEAN CG Governance Committee Campaign • No legal case involving corruption or anti-competitive practices Committee (CGPAC) Team Scorecard (ACGS) announced was brought against IVL or our employees. in 2020. Assists the Ensures business Examines issues Facilitates and Implements and Attend the CG We are targeting the same outcomes for 2021. Board of Directors ethics are applied raised by monitors progress of communicates Manual and related in reviewing financial through the Code whistleblowers and the CGPAC the CG manual to trainings and adhere reporting and of Conduct and processes cases program and all employees. to its contents in daily monitoring internal arranges introductory deemed appropriate. provides status operations. controls and audits, training on policies. The Whistleblower reports of the project compliance with laws Committee provides a to the NCCG Whistleblower Policy and regulations and summary of the Committee, which the CG Manual. received cases to the updates the Board. Empowering all employees to report concerns or The Board appointed new members to the NCCG Committee and Board. evidence of unethical practices is an important Whistleblower Committee and approved the function in ethical and responsible organizations. Whistleblower Committee Charter in November 2020. Our Whistleblower Policy provides anonymous Published in 2019, the Corporate Governance Manual Established in 2013, the Corporate Governance Policy channels to communicate directly with the In 2020, the Whistleblower Committee received (CG Manual) provides all directors, employees and Awareness Campaign (CGPAC) is an ongoing global Whistleblower Committee, which then initiates 20 complaints. 15 cases were resolved, two are stakeholders with a clear focus on how IVL’s values program which involves communicating, providing training, evaluating the understanding of employees an investigation and takes appropriate action. under investigation, while three were not are being implemented, how they are linked to the Company’s long-term objectives and how corporate and monitoring implementation of the CG Manual. The Whistleblower Policy and the reporting whistleblower cases. All cases carried over from 2019 governance is being realized. Translated into This includes training on related policies, procedures and website are compliant with the EU’s General Data have been resolved. A summary of the investigations 20 languages at the end of 2019, the manual was protocols, an assistance package, and whistleblower Protection Regulation (GDPR). Concerns can be and the actions taken were reported to the NCCG distributed to all sites including those newly acquired. mechanisms at IVL’s head office and at the site raised on our website, by email or regular mail. Committee and the Board. level. The CGPAC Team monitors the campaign’s progress through dedicated resources that ensure improved awareness among all IVL associates. Indorama Ventures PCL. Sustainability Report 2020 44 Vision - To be a world-class sustainable chemical company making great products for society. 45 HOME All employees are informed about the Manual when Based on the requirements of each unit, the CGPAC The training session for the CG Manual introduces the joining the Company and must acknowledge that Team used both lectures and in-depth discussions document to employees and provides guidance on
Load more

Recommended publications
  • Indorama Ventures Enters the Dow Jones Sustainability Index (DJSI) for the First Time
    Indorama Ventures Public Company Limited Contacts: Investors Media Richard Jones Naweensuda Krabuanrat Indorama Ventures PCL Indorama Ventures PCL +662.661.6661 ext. 680 +662.661.6661 ext. 247 [email protected] [email protected] Indorama Ventures Enters the Dow Jones Sustainability Index (DJSI) for the First Time Ranks Among Top Five of All Global Chemical Companies and One of Only Two Companies in the DJSI Emerging Markets Chemical Industry Bangkok, Thailand – 8 September 2017- Indorama Ventures Public Company Limited (IVL), a global chemical producer, is pleased to announce that the Company has been listed in the Dow Jones Sustainability Index (DJSI Emerging Markets) for the first time as published by RobecoSAM. The inclusion confirms IVL’s excellent performance among the world’s leading companies in the chemical sector and its commitment to leadership in sustainability. The Dow Jones Sustainability Indices (DJSI) is a leading global benchmark in corporate sustainability and socially responsible investment. The indices are offered cooperatively by RobecoSAM and S&P Dow Jones Indices. E very year DJSI conducts the assessment to ensure that companies continue developing in terms of sustainability. The ranking is based on a comprehensive analysis and evaluation of economic, environment and social performance. Commenting on this achievement, Mr. Aloke Lohia, Group CEO of Indorama Ventures, said, “We aspire to be a world-class chemical company mak ing great products for society. Being included by DJSI and rank ed among top five of all global chemical companies is an important milestone for us. This truly reflects our sustainability leadership within the industry and the progress we are mak ing in our sustainability journey on a global scale.
    [Show full text]
  • TRIS Credit Rating Report
    INDORAMA VENTURES PLC No. 165/2020 16 October 2020 CORPORATES RATIONALE Company Rating: AA- TRIS Rating affirms the company rating on Indorama Ventures PLC (IVL) and Issue Ratings: the ratings on IVL’s senior unsecured debentures at “AA-”. TRIS Rating also Senior unsecured AA- affirms IVL’s subordinated capital debentures at “A”. In addition, TRIS Rating Hybrid A assigns the rating of “AA-” to IVL’s proposed issue of up to THB10 billion in senior unsecured debentures. At the same time, TRIS rating revises the rating Outlook: Negative outlook to “negative” from “stable”. Last Review Date: 26/09/19 The “negative” outlook reflects IVL’s weakening performance in 2019 and 2020, which were largely impacted by significant inventory losses on a drop in Company Rating History: Date Rating Outlook/Alert petrochemical prices driven by drop in crude oil prices, together with uncertainty around recovery of the petrochemical and derivative industry, 26/09/19 AA- Stable and that the company’s deleverage plan following the acquisition of 09/08/19 AA- Alert Developing Huntsman’s assets (Spindletop) may take longer time than expected. 29/08/18 AA- Stable The “AA-” ratings continue to reflect the company's leading position in the 18/10/17 A+ Positive polyester value chain, a competitive edge stemming from its vertical 09/09/11 A+ Stable integration of production, the variety of products, and diversification of production facilities and customers across Asia, America, Europe, Africa and Australia. The ratings also take into consideration the management team’s capability and experience, as well as IVL’s access to key technologies.
    [Show full text]
  • Annual Report
    Indorama Ventures Annual Report ANNUAL REPORT 2016 INDORAMA VENTURES PUBLIC COMPANY LIMITED 2016 ANNUAL REPORT INDORAMA VENTURES PUBLIC COMPANY 2016 TO BE A WORLD-CLASS CHEMICAL COMPANY MAKING GREAT PRODUCTS FOR SOCIETY. INDORAMA VENTURES PUBLIC COMPANY LIMITED 75/102 Ocean Tower 2, 37th Floor, Soi Sukhumvit 19 (Wattana), Bangkok 10110, Thailand Telephone: +662 661 6661 Fax: +662 661 6664-5 This annual report is printed on paper that requires 50% fewer trees to produce www.indoramaventures.com than narmal paper. All the texl is printed using natural say ink. www.indoramaventures.com This annual report is printed on paper that requires 50% fewer trees to produce than normal paper. All the text is printed using natural soy ink. VISION MISSION VALUES Industry Leading R&D Our world-class research facilities are led by the best teams in the industry, enabling IVL to continuously innovate to provide solutions today to tomorrow’s questions. Vision Mission To be a world-class chemical company making We commit to be a responsible industry leader great products for society. leveraging on the excellence of our people, processes, and technologies to create value for our stakeholders. Values The customer is why we exist. Diversity is our strength. We measure ourselves by our customers’ success. As a global company we value the variety of Through unparalleled innovation and attention knowledge, perspectives and experiences in our to quality we aim to exceed their expectations. organization, and draw strength from these to fuel our competitiveness. Our people make the difference. We are responsible. A company is its people and people provide the In our pursuit of business growth and profitability competitive advantage.
    [Show full text]
  • Report 2011 2011 Highlights
    Sustainability Report 2011 2011 Highlights 1 Recycling IVL has invested in recycling units producing Recycled Fibers (rFibers) from post-consumer bottles across the USA, Europe and Asia with a total capacity of 152,000 TPA RECO - (Reduce, Reuse, Recycle + ECO) 2 National Student Design Competition in Thailand Over 300 students designed fashion and furniture from used bottles and clothes. 30 selected teams were given THB 10,000 each to turn their designs into reality. Prize money of THB 400,000 was given to the winners 3 Waste Recycle Bank IVL, through its subsidiary TPT Petrochemicals, continues to support the Waste Recycle Bank at Ban Nong Fab school in a village in Rayong which setup to encourage students and the community to collect post-consumer PET bottles that is sold for recycling into useful polyester fiber. Over 23 Tons of PET bottles were collected last year, generating more than THB 86,000 in income which will be for students scholarship. Contents 1 Message from the Board Message from Group CEO 2 Message from Director & Chairperson of the Sustainability Committee 3 2 Business Overview Polyester Value-Chain 5 History and Timeline 8 39 operating sites in 15 countries across 4 continents 9 IVL Sites around the world 10 Organization Structure 12 Corporate Structure 13 Financial Summary 14 3 Sustainability at IVL Sustainability Value Chain 18 Affordable and environment friendly textile 19 Corporate Governance at IVL 20 Sustainability Policy 21 Sustainability Committee 21 Sustainability Through Innovation 22 Brand Spotlight 24 Did
    [Show full text]
  • Making Sense of Chemical Prices Special Report ICIS TOP 40 POWER PLAYERS Phil Arthur
    EUROPE STYRENE EUROPE PE ACETIC ACID STRONG AND Producers are nervous Eastman’s Kingsport, OPTIMISTIC FOR about the wave of US US outage likely to FIRST QUARTER start-ups which will add keep upward pressure MARKETS P18 volumes to Europe 19 on prices during Q1 42 15 December 2017-4 January 2018 MAKING SENSE OF CHEMICAL PRICES SPECIAL REPORT ICIS TOP 40 POWER PLAYERS Phil Arthur JOSEPH CHANG NEW YORK We are delighted to present the 2017 ICIS based on vision, achievement, Top 40 Power Players, a global ranking of investment, financial performance, the key CEOs and senior executives culture change, mergers and acquisitions, making the greatest positive impact on restructuring and leadership in the their companies and the industry. The company, as well as external ICIS Top 40 Power Players are selected by organisations. It was a dynamic year, with the ICIS senior editorial staff worldwide no shortage of great candidates. www.icis.com 15 December 2017-4 January 2018 | ICIS Chemical Business | 27 SPECIAL REPORT ICIS TOP 40 POWER PLAYERS LyondellBasell’s Patel climbs to top LyondellBasell’s CEO, Bob Patel, has kicked off a new multibillion dollar PO/TBA project in the US, along with a Hyperzone HDPE plant using its proprietary technology JOSEPH CHANG NEW YORK pacities of 470,000 tonnes/year of PO and 1m BOB PATEL tonnes/year of TBA upon completion sched- aking a disciplined approach to capi- 1 CEO uled for mid-2021. tal spending, LyondellBasell, led by LYONDELLBASELL The PO will be sold mostly in the domestic CEO Bob Patel since the start of 2015, market as a key component in the production has made incremental ethylene ca- of polyurethanes.
    [Show full text]
  • Contact List
    Corporate Contact PTA Canada ………………………..... 10 1 HR Bangkok ……………………......… Indonesia ……………………….. 10 1 HRGlobal ……………………….......… The Netherlands ………………..10 2 Factories…….........…….........……...... Portugal ………………………… 10 3 Investor Relations…………………….. Thailand ………………………… 11 3 Company Secretary…………….......… USA ……………………………... 11 Sustainability……………………..........4 4 Corporate Social Responsibility.......... Wool 4 Board of Directors…………….........…. Thailand ………………………....11 Buy Our Product Country Base Contract EO/EG 5 Canada ………………………….12 USA ………………………….........…… China …………………………....12 Czech Republic ……………….. 12 Fibers 5 Denmark ……………………..… 12 China ………………………….......…...5 France ………………………..… 12 Czech Republic ………………............5 Germany ……………………….. 12 Denmark …………………………........ 5 Ghana ………………………...… 13 Germany …………………………........6 India ………………………......…13 Indonesia ………………………...........6 Indonesia ………………….....…13 Ireland …………………………............6 Ireland ………………………...…14 Italy …………………………….............6 Italy …………………………...… 14 Lithuania ………………………............6 Lithuania ……………………...…14 Mexico …………………………........... 7 Luxembourg ……………........…14 Thailand ……………………….............7 Mexico ……………………..……14 USA ……………………………............ Myanmar ……………………......15 The Netherlands ………….....…15 PET 7 Nigeria ……………………......…15 China ……………………………..........7 Philippines …………………..…. 15 Ghana ……………………………........ 8 Poland ……………………..…… 15 Indonesia …………………………....... 8 Portugal ……………………...….15 Lithuania …………………………........ 8 Spain ………………………..….. 15 Mexico …………………………..........
    [Show full text]
  • Coca-Cola 2020 World Without Waste Report
    2020 World Without Waste Report THE COMPANY Introduction Design Collect Partner What’s Next Assurance Statement Design Make 100% of our packaging recyclable globally by 2025—and We have a responsibility to help solve the global use at least 50% recycled material plastic waste crisis. That’s why, in 2018, we in our packaging by 2030. launched World Without Waste—an ambitious, sustainable packaging initiative that is creating systemic change by driving a circular economy Collect for our bottles and cans. Collect and recycle a bottle or can for each one we sell by 2030. The World Without Waste strategy has signaled a renewed focus on our entire packaging lifecycle—from how bottles and cans are Partner designed and produced to how they’re recycled Bring people together to and repurposed—through a focus on three support a healthy, debris-free environment. fundamental goals: Our sustainability priorities are interconnected, so we approach them holistically. Because packaging accounts for approximately 30% of our overall carbon footprint, our World Without Waste strategy is essential to meeting our Science-Based Target for climate. We lower our carbon footprint by using more recycled material; by lightweighting our packaging; by focusing on refillable, dispensed and Coca-Cola Freestyle solutions; by developing alternative packaging materials, such as advanced, plant-based packaging that requires less fossil fuel; and by investing in local recycling programs to collect plastic and glass bottles and cans so they can become new ones. This is our third World Without Waste progress report (read our 2018 and 2019 reports). Three years into this transformational journey, the global conversation about plastic pollution—and calls for urgent, collaborative action—are intensifying.
    [Show full text]
  • Committed Towards a Sustainable Future
    Sustainability Report Executive Summary 2020 r E la con cu o ir m C y eutrali N ty n o b r a C g & Em in p e o b w - l e l r e m e W n Committed Towards t A Sustainable Future H e a l t h & S a f e t y e t s a W R e c i c t y s c a l l cts fo i n P du r g d S t o E n ro o P c i t e a t y e r G Scan to read INDORAMA VENTURES PUBLIC COMPANY LIMITED Sustainability Report Executive Summary 2020 For More Key Sustainability Achievements 2020 Information • Indorama Ventures was recognized in SAM’s • Indorama Ventures improved its ESG Sustainability Yearbook 2021 with the Silver rating from BB to BBB in 2020. Class distinction and was listed in the Dow Jones Sustainability Indices (DJSI) - World and Emerging Markets. We were ranked third among 115 of the world’s • Indorama Ventures achieved a B Rating leading sustainable chemical companies. • in the CDP’s Climate Change Assessment in 2020. • In 2020, Indorama Ventures remained at the Gold Level, recognized as one of the top 2% of companies (98th percentile) rated by EcoVadis in Sustainalytics assessed IVL as a leader in the manufacture of basic chemicals. • ESG the chemicals industry placing the company INDUSTRY TOP RATED 7th out of 202 companies, as per their report in January 2021. for 2nd consecutive year • Indorama Ventures remained a constituent of the FTSE4Good Index Series following the October 2020 index review, achieving the top rank among chemical companies • Indorama Ventures was awarded “Best Regional globally (scoring 4.6 out of 5).
    [Show full text]
  • Name: Mr. Aloke Lohia Director Type: Executive Director Present Position
    Indorama Ventures Public Company Limited Indorama Ventures Public Company Limited Name: Mr. Aloke Lohia 2011 – Present Director Auctus Holdings Limited Director Type: Executive Director 2008 – Present Chairman Present Position: Vice Chairman of the Board, Beacon Chemicals Ltd. Chairman of the Sustainability and Risk Management Committee 1997 – Present Director and Group Chief Executive Officer VOX Investment Limited Age: 60 Connected business that - None - Family Relation with Spouse of Mrs. Suchitra Lohia and Brother of Mr. Sri Prakash Lohia may have Conflicts of Interest: Other Executives: % of shareholding in IVL 10 shares or 0.000% Appointment Date of 19th September 2009 As of 31st December 2018 Directorship: Meeting Attendance: No. of Years as 9 Years 7 Month (as on April 2019) Board Meeting: 6 meetings in total; 6 meetings attended Director of IVL: Sustainability and Risk 2 meetings in total; 2 meetings attended Education: Honorary PhD Degree of Business Administration, Rajamangala Management Committee University of Technology Thanyaburi, Thailand Meeting: Bachelor of Commerce, Delhi University, India Legal Dispute during - None - the past 10 years: Training Program: Director Accreditation Program (DAP) Class No.65/2007 Thai Institute of Directors, Thailand Working Experience Other Listed Companies in SET / MAI -None- Other Companies and/or Organizations (17 Companies) (as on 31st December 2018) Present Chairman, Vice President Commissioner, Commissioner and Director of other subsidiaries of Indorama Ventures Public Company Limited (9 Companies) 2016 – Present Director Viraa Limited 2015 – Present Director Capialla Limited 2014 – Present Director Aurelius Holdings Limited 2012 – Present Director Vega Aviation Limited 2012 – Present Director Brookgrange Investments Limited Page 32 Page 33 Indorama Ventures Public Company Limited Indorama Ventures Public Company Limited Name: Mr.
    [Show full text]
  • Vol.11 July-December 2014 Interview
    The July-December 2014 Vol.11 An Introduction to The Road to A Step Towards RECO’s Winner Investor Relations Sustainability Anti-corruption Interview Royal Initiatives Biography of Her Majesty Queen Sirikit er Majesty Queen Sirikit is a daughter of His Highness Prince Chandaburi Suranath (Mom Chao Nakkhatra Mangkala Kitiyakara) and Mom Luang Bua Kitiyakara. Her Majesty was born on August 12, 1932. She was named Sirikit, meaning the Glory of Kittiyakara family, with the title Mom Rajawongse (MR), equivalent to the Honorable. MR SirikitH went to Rajini School in 1936. Then she went to St. Francis Xavier Convent School until secondary level. She moved to England when she was 13 years old as her father Prince Nakkhatra was appointed Thai Ambassador to the Court of St. James. After a year, Prince Nakkhatra was transferred to be Ambassador to France. While serving in Paris, he had the opportunity to meet the young King Bhumibol Adulyadej. At the time, His Majesty the King was studying in Lausanne, Switzerland. The King met MR Sirikit for the first time in 1947. Later, the Princess Mother asked MR Sirikit to continue her studies in Lausanne and keep His Majesty company. The King and MR Sirikit got to meet each other more frequently. A quiet engagement ceremony for the royal couple was arranged on July 19, 1949 at the Windsor Hotel, Lausanne and they were married on April 28, 1950 at Srapathum Palace, Bangkok. On that day, Mom Rajawongse Sirikit was elevated to Queen Sirikit. Then, on December 5, 1956, the King’s birthday, Her Majesty was elevated her again to become the Regent of the King.
    [Show full text]
  • History of IVL M&A
    Last updated 29-November-2017 History of IVL M&A Installed Capacity at Current Acquisition IVL holding Acquired date Installed Year Name Completion Country Products % (KT) Capacity (KT) Remarks 2017 Artlant 29-Nov-17 Portugal PTA 100% 700 700 Enhanced IVL EMEA PTA integration to 100% 2017 DuraFiber, France 5-Oct-17 France HVA Automotive Fibers 100% 35 35 Complement with the current HVA polyester tire cord in China Co-located with our Polyester facility in Mexico and complement with the current HVA 2017 DuraFiber, Mexico 29-Sep-17 Mexico HVA Automotive Fibers 100% 22 22 polyester tire cord in China 2017 Glanzstoff 31-May-17 Luxembourg, Czech Republic, Italy & China HVA Automotive Fibers 100% 36 36 New geography and complimentary Rayon Fibers for tire industry 2017 25% more investment in Trevira 5-May-17 Germany HVA Technical Fibers 100% 120 120 Acquisition of Minorty Interests thereby improving Earnings Per Share 2017 Total 914 914 2016 50% investment in Dhunseri PET 12-Sep-16 India PET 50% 240 240 50% as Joint Venture which is now the 2nd largest PET producer in India 2016 50% divestment of Micro Pet 12-Sep-16 India PET 50% (108) (108) 50% as Joint Venture which is now the 2nd largest PET producer in India 2016 BP Amoco Chemicals 31-Mar-16 North America PX, PTA, NDC 100% 1,020 1,020 Enhanced PTA integration into North America & maiden entry into speciality NDC 2016 Cepsa Spain 7-Apr-16 Spain IPA, PTA, PET 100% 720 720 220 of IPA 325 of PTA and 175 of PET.
    [Show full text]
  • To Grow with Positive Environmental & Societal Continuity Acquisition of Sorepla
    To Grow with Positive Environmental & Societal Continuity Acquisition of Sorepla July 31, 2018 Transaction Summary Acquisition of Sorepla Acquisition • IVL entered into agreement to acquire Sorepla Technologies S.A. - a plastics recycling facility in France • The combined capacity of 52,000 tonnes/annum consists of 3 production lines - Recycled Polyethylene Terephthalate (rPET), Recycled High Density Polyethylene (rHDPE) and food-grade Pellets Strategic Rationale • Strategically in line with the Company’s objectives of long-term sustainability • Further solidify IVL’s position as one of the leaders in recycling in Europe • Opens up new opportunities to serve increasing demand for food grade rPET • Synergies of management and supply chain from close proximity with IVL’s existing recycling business in France Transaction Highlights • The transaction closes with immediate effect • Clear and well-defined integration plan leveraging on IVL strong execution capabilities 2 PET Contribute to a More Sustainable Industry Material of Choice GHG generated to produce packaging for PET Becoming the Sustainable Material of Choice 100 Koz of soft drink K Lbs CO2E 4,848 5,000 PET prolongs the shelf life and quality of the 4,000 products and prevent wastage 2,766 3,000 2,000 1,125 PET is safe and non-toxic since PET polymer is 1,000 very stable and inert 0 PET bottle Aluminium Glass bottle can Lightweight PET save resources and also cuts costs & environmental impact during Energy required to produce packaging for transportation 100 Koz of soft drink MM Btu
    [Show full text]