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Indorama Acquires Old World’s Chemical Assets for $795 Million

6:13 AM MST | February 13, 2012 | Deepti Ramesh and Robert Westervelt

Indorama Ventures (Bangkok) has agreed to acquire the chemical assets of Old World Industries (Northbrook, IL), including a production facility at Clear Lake, TX, for $795 million. Old World will retain its consumer products division, including Peak antifreeze. Old World will enter into a long-term glycol supply contract with Indorama for its antifreeze production in the U.S., under the terms of the deal. The acquisition is expected to close in the first quarter of 2012. Old World operates the largest single ethylene oxide (EO)-ethylene glycol (EG) production...

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