BANGKOK, THAILAND/ABUJA, NIGERIA: Indorama Ventures Public Company Limited (IVL) approved the acquisition of a packaging company in Nigeria, Africa, producer of PET preforms that are later blown into bottles by its customers of water or carbonated soft drinks. This acquisition will be a forward integration for Indorama Ventures PET segment which set up an 84,000 metric tonne per annum PET bottle resin manufacturing unit in Nigeria in 2012.
This acquisition will enable IVL to grow the demand of PET in West Africa. The transaction is expected to be completed within the first half of 2013 subject to usual regulatory approvals.
© WOC News
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