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Equipolymers Completes Sale of PTA-PET Operation

1:10 PM MDT | July 6, 2010 | Peter Mapleston

Equipolymers (Dubai) has completed the sale of its purified terephthalic acid (PTA) and polyethylene terephthalate (PET) plants at Ottana on the Italian island of Sardinia, to a joint venture between local power generating company Ottana Energia and Indorama Polymers (Bangkok). The jv, UAB Polimeri Europe, has renamed the operation Ottana Polimeri. Equipolymers, a 50-50 jv between Dow Chemical and Petrochemical Industries Co. (PIC; Safat, Kuwait), signalled its intention to divest the Ottana operations at the beginning of 2009, citing disappointing financial...

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