Orbia Advance Corporation, S.A.B. de C.V. (BMV: ORBIA*) (“the Company” or “Orbia”) announces an update on its PVDF Joint Venture (“the PVDF Project”) and its capital investments plans.
Consistent with its partner’s recent announcement regarding the PVDF Project investment extension by up to two years, the previously communicated pause on its PVC capacity expansion and no intent to pursue material acquisitions in the near term, Orbia has revised and significantly reduced its capital investment plan. The yearly estimates are $525 million for 2024 and $450 million for each of 2025 and 2026, including maintenance and strategic growth initiatives.
This investment strategy aims to optimize Orbia’s resource allocation, drive long-term growth, and maintain a strong balance sheet despite the current challenging market environment, all aligned with its commitment to sustaining an investment-grade rating.
Orbia will host a strategy update following its third quarter earnings call on October 24th, 2024 to present an in-depth overview of its strategic and capital allocation priorities. The presentation will include a Q&A session.
