Bangkok - Indorama Ventures Pcl (IVL) has entered into an agreement to purchase DuPont Teijin Films (DTF), a joint venture of DuPont and Teijin that produces biaxially-oriented polyethylene terephthalate (BOPET) and polyethylene naphthalate (PEN) films.

DTF has a production capacity of 277,000 t/y of BOPET and PEN, with eight production assets in the U.S., Europe and China.  

The transaction also includes manufacturing and re-search and development operations associated with four joint ventures in the U.S., UK, Luxembourg and Hong Kong, as well as two Chinese joint ventures, and sales and technical capabilities, intellectual property, licenses and the Melinex and Mylar registered brands.  

The acquisition, for which a value was not given, is subject to customary closing conditions.

According to IVL, the global BOPET film industry has expanded "rapidly" and there are increasing applications and end-uses.  The global consumption of BOPET is expected to increase at an average rate of about 7% CAGR (compound annual growth rate) per year, making the purchase "attractive."

Also, through the acquisition, IVL will further enhance PET integration and value-enhancement through captive naphthalene dicarboxylate (NDC), which is used in high-performance polymers and films.  IVL said it is the "world's only" commercial manufacturer of NDC.