Reliance Eyes Tuntex’s Thai Assets

Reliance Industries has approached Tuntex (Taipei) with a view to acquiring Tuntex’s “distressed” assets in Thailand, Reliance executive director Nikhil Meswani tells CW. Tuntex has capacity for 450,000 m.t./year of purified terephthalic acid and 200,000 m.t./year of polyester in Thailand. The possible acquisition, together with Reliance’s recent purchase of Hualon Corp. (Kuala Lumpur), form part of Reliance’s overseas growth...

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