Reliance Industries Ltd. (RIL) produced almost 1.17 million tons of polyester (PFY, PSF, PET) in the nine months to Dec. 31, 2007, an increase of 5% on the same point a year ago.

Speciality products accounted for 54% and 39% of PSF and PFY production respectively.

Polyester saw exciting demand growth in the domestic market at 18% over the corresponding period of the previous year, said RIL. There was a robust growth of 31% in PET. POY demand grew by 19% whereas PSF demand grew by 13%. The increased demand for polyester was driven by robust investments in textile sector and PET consumer industries during the previous year. RIL claims a domestic market share in excess of 51% in polyester.

During the period, RIL signed an agreement to acquire assets of Hualon, Malaysia. Hualon is a leading polyester producer in Malaysia with polyester (fibre, yarn and resin) manufacturing capacity of approximately 500,000 tonnes per year along with downstream textile manufacturing capabilities. The acquisition will boost RIL’s annual capacity to 2.5 million tonnes, an increase of 25% over its existing capacity. It will also lift the company’s share of the global market in polyester fibre and yarn to more than exceed 7%. January 17, 2008

Source: www.itmalive.com