People & Business :: M&A
Indorama Ventures to Acquire Indonesian PET Business
1:34 AM MST | March 6, 2012 | Natasha Alperowicz
Indorama Ventures (Bangkok) said today that it has agreed to acquire 100% of the polyethylene terephthalate (PET) assets of PT Polypet Karyapersada in Indonesia. The facility being acquired has capacity to produce up to 100,800 m.t./year of PET. It is situated adjacent to the purified terephthalic acid (PTA) assets of PT Indorama Petrochemical, formerly known as PT Polyprima Karyesreska, at Cilegon, West Java, which Indorama Ventures acquired under a joint venture in 2011. Approximately half of Polypet's output is currently consumed by the domestic market...
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