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People & Business :: M&A

BP takes full ownership in Indonesian PTA producer, may upgrade plant

10:48 AM MST | March 7, 2014 | Natasha Alperowicz

BP said today that it has completed the previously announced buyout of its partners in Amoco Mitsui PTA Indonesia (AMI; Jakarta). BP says that on 28 February it completed the purchase of all interests previously held by Mitsui Chemicals and Mitsui & Co. in AMI, which for more than 15 years was an equally owned joint venture between BP and its Japanese partners. AMI is a producer of purified terephthalic acid (PTA) with a plant based at Merak, Cilegon, Indonesia. AMI, with effect from 1 March, is a wholly owned subsidiary of the BP group.     ...

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