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Indorama Completes Purchase of Old World’s EO-EG Business for $795 Million
11:12 AM MDT | April 4, 2012 | Deepti Ramesh
Indorama Ventures (Bangkok) says it has completed the previously announced acquisition of the chemical assets of Old World Industries (Northbrook, IL), including a production facility at Clear Lake, TX, for $795 million. Indorama had announced plans for the acquisition in February 2012. The plant is the largest single ethylene oxide (EO)-ethylene glycol (EG) production facility in the U.S. with EO capacity of 435,000 m.t./year and EG capacity of 358,000 m.t./year. Old World acquired the plant from Celanese in 1999. Indorama says it has taken charge of the plant...
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