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Indorama buys of 100% ethylene oxide/glycol facility in USA

February 10/2012

(ivl) -- The Board of Directors of Indorama Ventures Public Company Limited (IVL) approved the acquisition of 100% partnership interest in Old World Industries I Ltd., and Old World Transportation Ltd.,  located in Clear Lake, Texas, USA. 

Old World, is the largest single EO/EG production facility in the U.S. with Crude EO capacity
of 435,000 tons per annum. Mono Ethylene Glycol (MEG) is one of the key components,
together with Purified Terephthalic Acid (PTA), in the manufacture of Polyethylene Terephthalate (PET) and Polyester Fibers and Yarns, both downstream products of IVL.
IVL has signed a definitive Purchase Agreement on 6 February 2012 with the seller in USA
and the Company expects the closing of the transaction within first quarter of 2012 subject to
the applicable regulatory approvals.

Author:Anna Larionova
Tags:PET, MEG, terephthalic acid.
Category:General News
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