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Indorama Seeks Acquisitions to Double Revenue by 2018, CEO Says

Indorama Ventures Pcl, Thailand’s largest maker of polyester and plastic packaging material, plans to double its revenue in four years by acquiring companies in Europe and North America.

The company, whose shares just completed their biggest quarterly rally in three years, will spend about $1.9 billion through 2016 on acquisitions and capital expenditure, three times the amount over the last two years, Chief Executive Officer Aloke Lohia said. About 90 percent is earmarked for acquisitions, aimed at boosting revenue to $15 billion by 2018. Earnings before interest, tax, depreciation and amortization should grow even faster than sales, he said, without elaborating.