- Indorama Polymers Workington Ltd. announced the plant closure on November 12th, 2013.
- The decision was made after considering the business scenario.
- The closure will not affect the company's revenue or profitability.
- Customers are being served by other IVL PET plants in Europe.
Closure Announcement
Indorama Ventures Public Company Limited (IVL) has announced the permanent closure of its PET plant operated by Indorama Polymers Workington Ltd. in the UK. This decision follows a previous disclosure made on November 12th, 2013, regarding the mothballing of the plant.
Business Considerations
After thorough consideration of the current business scenario, IVL management has decided not to restart the plant. The closure is deemed necessary and is in line with the company's strategic decisions.
Impact on Performance
The closure of the Workington PET plant will not have any material effect on IVL's overall performance, including revenue and profitability. The company has ensured that all customers are being adequately served by its other PET plants located in Europe.
Compliance
IVL has confirmed that all actions related to the plant closure are in full compliance with local laws and regulations. The company remains committed to adhering to legal requirements in all its operations.
