Indorama Ventures Public Company Limited (SET: IVL) has informed the Stock Exchange of Thailand that the Management Board of Indorama Netherlands B.V. (INBV), an indirect subsidiary of the Company, has passed a resolution dated April 7, 2025 approving the divestment of its subsidiary, Indorama Ventures Portugal PTA – Unipessoal, LDA. (IVPPTA), in Portugal.
The divestment involves the sale of its entire equity stake, representing 100% of the quotas in IVPPTA, by INBV.
IVPPTA operates a PTA manufacturing facility in Sines, Portugal. After a thorough assessment of market conditions and economic pressures, including high raw material and energy costs, inflationary impacts, and competition from low-cost PTA imports, the company has decided to implement its asset optimization strategy by divesting its investment in IVPPTA.
This divestment will not affect the Company’s operations or financial position, as IVPPTA’s assets were already impaired in 2024.
