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World News and Views :: Projects
Perstorp Acquires Lonza’s Singapore Isophthalic Acid Plant
12:30 PM MDT | October 3, 2007 | Chemical Week Editorial Staff
Perstorp has agreed to acquire Lonza’s purified isophthalic acid (PIA) plant in Singapore for $138 million. The transaction is expected to be completed by year-end. The move is part of Lonza’s strategy to focus more on life sciences. “With the divestiture of the PIA plant, Lonza continues to execute its strategic shift towards the life sciences, and with Perstorp we have found the right partner for the continued development of the PIA operation,” says Stefan Borgas, Lonza CEO. The PIA plant is located at Jurong Island, Singapore. It...
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