Reliance to Buy Polyester Manufacturer in Malaysia

Reliance Industries Ltd. (RIL; Mumbai) says it has signed an agreement to acquire polyester producer Hualon Corp. (Kuala Lumpur) in a deal that would boost Reliance’s polyester production by 25%, to 2.5 million tons/year. Reliance will acquire the $800-million company from Ernst & Young, Malaysia (Kuala Lumpur), which is the appointed receiver and manager for Hualon. Terms were not disclosed. Some media reports say that Reliance could pay $150 million-$250 million for the assets, however. The agreement is pending regulatory approval. Hualon has...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers