Underlining its global activities, Indorama Ventures (IVL, Bangkok / Thailand; www.indoramaventures.com) has made yet another purchase. Following earlier buys in Turkey and Thailand (see Plasteurope.com of 09.03.2015 and of 23.03.2015), the world’s PET market leader in late March decided to add Canada to its recent acquisition spree. Marking its inaugural entry into the country, IVL on 23 March announced that it has signed an agreement to acquire all the shares in PTA producer Cepsa Chimie Montreal (Montreal / Canada), an affiliate of Spain’s Compañía Española de Petróleos (Cepsa, Madrid; www.cepsa.com) and Investissement Québec (Montreal; www.investquebec.com) subsidiary IQ Chimie. Financial details of the deal, which still has to meet regulatory approval, were not disclosed.

Cepsa Chimie Montreal operates the only PTA plant in Canada, with a nameplate capacity of about 600,000 t/y. The facility receives most of its paraxylene feedstock from an adjacent refinery, IVL said. “Cepsa Chimie Montreal provides us the unique opportunity to acquire assets that will consolidate our North American polyester value chain businesses for added feedstock security,” IVL chief executive Aloke Lohia said, adding that, “The acquisition is in line with our announced strategy to expand in our core businesses, primarily in the West.”