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Mitsui Chemicals sells stake in Indonesian PTA joint venture to BP

2:01 AM MST | December 20, 2013 | Deepti Ramesh

Mitsui Chemicals says that it has agreed to transfer all its shares in its affiliate Amoco Mitsui PTA Indonesia (AMI; Jakarta), a manufacturer of purified terephthalic acid (PTA), to BP Global Investments, a subsidiary of BP. AMI was established in 1995, and Mitsui Chemicals currently holds a 45% stake, BP Amoco Chemical Indonesia holds a 50% stake, and Mitsui & Co. holds a 5% stake therein. The share transfer is part of Mitsui Chemicals’ efforts to restructure its PTA operations due to the challenging business environment, the company...

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