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People & Business :: M&A

Indorama acquires packaging business in Nigeria

7:14 AM MST | February 25, 2013 | Deepti Ramesh

Indorama Ventures (Bangkok) says that its board of directors, in a meeting held on 22 February, approved the acquisition of a packaging company in Nigeria that produces polyethylene terephthalate (PET) preforms that are later blown into bottles by its customers of water and carbonated soft drinks. Financial details of the deal and the name of the company were not disclosed. The acquisition will enable forward integration for Indorama’s PET business, which started up an 84,000-m.t./year PET bottle resin manufacturing unit in Nigeria in July 2012. The...

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