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Indorama Establishes Subsidiary in U.S. to Hold Old World Business

7:39 AM MDT | July 27, 2012 | Deepti Ramesh

Indorama Ventures (Bangkok) says it formed a new indirect holding subsidiary called Indorama Ventures OGL Holdings on June 30 to hold the business that Indorama acquired from Old World Industries (Northbrook, IL) earlier this year. Indorama, last April, completed the acquisition of the chemical assets of Old World Industries, including a production facility at Clear Lake, TX, for $795 million. Indorama had first announced plans for the acquisition last February. Following the acquisition, Indorama changed the name of the two acquired entities. The name of Old...

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