Indorama Ventures, a global sustainable chemical company, agreed to acquire Ngoc Nghia Industry, a PET converter in Vietnam with long-standing relationships with major brands. Financial terms were not disclosed. “This investment opportunity is in line with IVL’s business strategy of expanding our footprint in rising economies like Vietnam. The country is positioned to be the ASEAN production hub for the Asia-Pacific region. Moreover, Vietnam’s PET packaging market is expected to grow continuously due to strong growth in consumption and improving living standards. The proposed acquisition would foster sustainable growth in our largest business segment, Combined PET, which has been growing constantly to serve increasing demands globally," D K Agarwal, Indorama Ventures CEO of Combined PET, IOD and Fibers Business.