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Markets :: Plastics :: PET

Indorama Acquires Two PET Plants From Invista

10:24 AM MST | November 12, 2010 | Nancy Seewald

Indorama Ventures (IVL; Bangkok) says it has agreed to acquire Invista’s polyethylene terephthalate (PET) and resins manufacturing plants at Spartanburg, SC and Querétaro, Mexico for $420 million less certain assumed liabilities. The purchase price includes $229 million for the net fixed assets and equity interests, and $174 million for the net working capital of the business. IVL says that all associated staff will be included in the acquisition, including administrative workers at Charlotte, NC and Santa Fe, NM. The deal is expected to close in the...

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