La Seda and Indorama DrivePTA-PET Consolidation in Europe

The restructuring of Europe’s purified terephthalic acid (PTA) and polyethylene terephthalate (PET) industries shifted up a gear in December with the announcement of two major acquisitions. La Seda de Barcelona agreed last month to acquire PTA producer Chemical Intercontinental (Interquisa; Madrid) from Compañía Española de Petróleos (Cepsa; Madrid) in a deal that values Interquisa at €595 million ($879 million) including working capital. Meanwhile, Indorama Polymers (Bangkok) agreed to buy Eastman Chemical’s PTA and...

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