Indorama acquire Cepsa’s PTA facility in Canada

Indorama to acquire Cepsa’s PTA facility in Canada

12:09 PM, 23rd March 2015
Indorama to acquire Cepsa’s PTA facility in Canada

BANGKOK, THAILAND: Indorama Ventures Public Company Limited (IVL), a world-leading producer of intermediate petrochemicals, has signed an agreement to acquire 100 per cent shareholding of the Montreal, Canada, PTA business of Cepsa Quimica SA, wholly-owned affiliate of Cepsa, and IQ CHIMIE INC, a subsidiary of Investissement Quebec (jointly “Cepsa Chimie Montreal s.e.c.”).  The plant is the only PTA facility in Canada and one of only three PTA suppliers in North America. The acquisition, subject to usual regulatory approvals, will allow the company to expand its footprint into Canada.

“This will be our inaugural entry into Canada. CEPSA Chimie Montreal s.e.c. provides us the unique opportunity to acquire assets that will consolidate our North American polyester value chain businesses for added feedstock security. The acquisition is in line with our announced strategy to expand in our core businesses, primarily in the West,” said Aloke Lohia, CEO, Indorama Ventures.

 

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