Old World Industries concludes sale of its Chemical Business, to Indorama Ventures |
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(plastemart) -- Old World Industries, LLC has concluded
the sale of its Chemical Business, including the Ethylene Oxide/Ethylene Glycol
manufacturing facility in Clear Lake, Texas, to Indorama Ventures PCL of
Bangkok, Thailand. The deal was first announced publically in February
2012.
"With the close of this deal, Old World will now embark on the next
significant phase in our 39-year history," saidTom Hurvis, Old World Industries'
chairman and CEO. "We will focus all of our time and resources on expanding the
PEAK family of products in the automotive and heavy duty marketplaces
worldwide." PEAK products are marketed in more than 30 countries around the
world utilizing NASCAR driver Danica Patrickas their long-term
spokesperson.
In addition, Old World recently launched an eco-friendly
diesel emissions exhaust treatment fluid under the BlueDEF brand name. Diesel
exhaust fluid (DEF) is the fastest growing functional fluid in the North
American heavy duty marketplace and is expected to reach more than one billion
gallons of yearly consumer demand. Old World is investing heavily in the
infrastructure necessary to capture the leading position in this growing
market. |
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mrcplast.com | |
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