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IRP and its subsidiaries have completed all major expansions in the first half of 2007 and the available capacity for PET polymers has now increased to 603,000 tonnes per annum (tpa).

"Larger volumes helps the blended production costs to come down due to fixed costs absorption. The total production and sales volumes in the second half of 2007 is expected to be higher than in the first half, mainly from higher available capacity," the company said in a statement. 

In Thailand, PET polymers business is expected to improve due to the increased capacity. 

 IRP admitted that the consolidated business results were negatively impacted by the strong baht "but the management believes that IRP will be able to continue to improve its overall business health due to its strategic investments in Thailand and overseas," the company said.

 IRP Group expects to achieve PET polymers production volume for full year 2007 of above 500,000 tpa or a growth of over 2 times.

 IRP continues to march strongly into the future, having placed the orders for its new 420,000 tpa plant in USA which is scheduled for startup by the first quarter of 2009. This plant will be a new milestone for IRP and USA's largest PET plant.  This new investment will re-define the cost competitiveness of IRP to new levels, much lower than its existing operations which IRP believes are unique in the industry, the company said.

  The demand remains strong from all regions for PET polymers and the total demand in the current year is expected to increase to 13.5 million tonnes, a demand increase equivalent to a million ton or a growth of 8 per cent. The growth in demand is coming from existing and new applications. Water and Energy drinks continue to be the high growth segments.

 IRP is the worlds 7th largest producer and has the largest market share of PET polymers in Thailand. IRP is marching forward with confidence in its future performance.

- The Nation