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Equipolymers Signs Deal to Divest Italian PTA and PET Assets to Indorama JV

8:09 AM MDT | April 9, 2010 | Ian Young

Equipolymers (Dubai) says it has signed a definitive agreement for the previously announced sale of its purified terephthalic acid (PTA) and polyethylene terephthalate (PET) plants at Ottana, Italy to a joint venture between power generating company Ottana Energia and Indorama Polymers (Bangkok) (CW, Jan. 4/11, p. 5). The deal is due to close on June 1. Financial terms were not disclosed. The Ottana site, located on the island of Sardinia, has capacity for 190,000 m.t./year of PTA and 160,000 m.t./year of PET. Ottana Energia, owned by businessman Paolo Clivati...

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