INDORAMA
Artenius TurkPET acquisition wrapped up
Thailand’s Indorama Ventures (IVL, Bangkok; www.indorama.net) has completed its takeover of Artenius TurkPET. The world’s leading PET producer announced that it had successfully acquired 100% of the shares in the company, which operates a 130,000 t/y PET plant in Adana, from insolvent Spanish parent company La Seda de Barcelona. Spanish news outlets report that the selling price came to EUR 17.2m including the assumption of debts. Of this, about EUR 6.1m are to go towards La Seda.
Indorama just recently invested in the Turkish market by acquiring a 51% majority in Sasa Polyester Sanayi (Adana / Turkey; www.sasa.com.tr), which operates a plant nearby Artenius TurkPET – see Plasteurope.com of 15.04.2014.
Indorama just recently invested in the Turkish market by acquiring a 51% majority in Sasa Polyester Sanayi (Adana / Turkey; www.sasa.com.tr), which operates a plant nearby Artenius TurkPET – see Plasteurope.com of 15.04.2014.
06.06.2014 Plasteurope.com [228431-0]
Published on 06.06.2014
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