created by on-going restructuring as customers looked for higher con- tracted volumes due to risk that the restructuring would result in planned capacity not coming on line. This is reflective of the

regions on LTM basis; EMEA 3Q18 EBITDA per ton decreased YoY, negatively impacted due to startup/ramp-up of Egypt PET and Portugal PTA.  Core ROCE 14%, up from 12.4% in 3Q17 LTM is not fully reflective of

from Chinese exports and worries of US gasoline demands after reserves in the US surged in Q2/2017. However, demand in Indonesia and Middle Eastern countries adjusted upwards during the Ramadan month in

value of the asset and not the current price of the asset, thereby rendering the asset’s book value possibly not being reflective of a fair price of the asset. The Adjusted Book Value Approach, on the