In the 1st quarter 2020 sales of the chemical company Indorama Ventures Public Co. Ltd. (IVL), Bangkok/Thailand, decreased by 3% compared to Q1/2019, including integration of newly acquired assets from Huntsman Corp., The Woodlands, TX/USA. A sales growth by 15% during 1st quarter 2020 over 4rth quarter 2019 was registered.
During this period the Fiber portfolio was partially impacted by lockdowns in China, India and Italy. The Mobility Fiber portfolio faces headwinds from GDP contraction. The quarter provided strong positive momentum to the global businesses of Hygiene Fibers and the Integrated PET leadership in both volumes and margins as well as management of the regional supply chains, during this period of enhanced demand.
During these complex times of the COVID-19 global pandemic coupled with an historic collapse in the crude oil price, IVL’s performance has shown high resilience with its regionalized geographical footprint, market segment participation and feedstock adaptability.