PET giant Indorama Ventures (IVL, Bangkok, Thailand; www.indoramaventures.com) has acquired Ngoc Nghia Industry – Service – Trading Joint Stock Company (NN, Ho Chi Minh City, Vietnam; www.nnc.vn) for VND 2.09 tn (EUR 85.7 mn) in the latest step of the expansion of its integrated offering of PET products in the region.

Ngoc Nghia is a leading PET converter in Vietnam and specialises in blow moulded bottles, injection moulding, and cap-compression moulding. It has four manufacturing facilities in the country with total production capacity of 5.5 bn units of PET preforms, bottles, and closures, totalling 76,000 t/y of PET conversion. An Indorama representative told Plasteurope.com that one of the four manufacturing sites is “co-located at the site of a customer”.

Related: Indorama acquires major stake in Czech PET recycler

Commenting on the acquisition, Indorama CEO D K Agarwal said, “We are glad to embark on our journey in Vietnam, which is one of the high-growth markets in the region. With long-standing experience in the integrated PET business, IVL will bring more competitive advantages to NN.”