INDORAMA
Acquisition of controlling interest in Egyptian Medco Plast complete
 Indorama now has a major place in Egypt's PET preforms market (Photo: tzidophoto/Fotolia) |
PET global market leader Indorama Ventures (IVL, Bangkok / Thailand; www.indoramaventures.com) has completed the acquisition of a 74% stake in Medco Plast for Packing and Packaging Systems (Giza / Egypt; https://medcoplast.business.site) – see Plasteurope.com of 24.07.2018. Following the transaction, Middle East Glass Manufacturing holds a 16% share and the Samaha family holds 10%.
With a 25% market share, Medco Plast is the largest producer of PET preforms and closures for beverage bottles in Egypt. Its 11 production lines in Giza have a capacity of 70,000 t/y of preforms. The acquisition gives Indorama exposure to the East African PET packaging market and complements the Thai company's existing West African footprint in Nigeria and Ghana.
With a 25% market share, Medco Plast is the largest producer of PET preforms and closures for beverage bottles in Egypt. Its 11 production lines in Giza have a capacity of 70,000 t/y of preforms. The acquisition gives Indorama exposure to the East African PET packaging market and complements the Thai company's existing West African footprint in Nigeria and Ghana.
27.11.2018 Plasteurope.com [241225-0]
Published on 27.11.2018
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