Home / Knowledge / News / Textiles / Indorama Ventures to acquire Artlant PTA in Portugal
Indorama Ventures to acquire Artlant PTA in Portugal
10
Nov '17
Courtesy: Artlant PTA
Courtesy: Artlant PTA
Continuing to build on its successful feedstock integration strategy, Thailand headquarterd Indorama Ventures Public Company Limited (IVL), will acquire the assets of Artlant PTA, S.A (Artlant), including all equipment, surface rights and employment contracts. IVL will also acquire the assets of adjacent utilities provider, Artelia Ambiente, S.A. (Artelia).

Artlant has a purified terephthalic acid (PTA) plant in the Sines Industrial Complex in Portugal with a production capacity of 700,000 tonnes per annum. Its acquisition will add substantial scale and enhance IVL’s PTA leadership in Europe.

Artelia has a capacity of 40.390 MW of electricity, steam, demineralised water, wastewater treatment and hydrogen. Its acquisition will benefit IVL by securing energy supply to Artlant and selling excess power to the grid.

PTA is used as raw material for polyester (PET) production. With the company’s plan to grow its core businesses in the future, this feedstock security will be a solid basis for portfolio expansion. IVL expects to reduce cost and increase operational synergies via internal supply of feedstock and replace imports in Europe.

“Artlant fortifies our core PTA business and is a part of our successful vertical integration strategy. We can apply our scale and operational expertise while taking advantage of cost synergies and capture the opportunity for future growth and expansion,” said IVL group CEO Aloke Lohia.

“We are confident that Artlant will drive the growth of the polyester business both in Portugal and the rest of Europe. It will support employment opportunities in the region, and help economic growth. I look forward to closing the deal in the fourth quarter of 2017,” he added. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

'Sportswear is much more mainstream than earlier'

Fashion | On 20th Jul 2018

'Sportswear is much more mainstream than earlier'

The business of sportswear has evolved at a fast pace over the years. ...

Courtesy: YKK

Textiles | On 20th Jul 2018

Japanese firm YKK explores opening office in Uzbekistan

Japanese company YKK recently discussed with the Uztuqimachiliksanoat ...

HFPA alerts member firms on latest US tariff announcement

Textiles | On 20th Jul 2018

HFPA alerts member firms on latest US tariff announcement

The US Home Fashion Products Association (HFPA) has alerted its...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Urmil Arya

Sushila International, a well established textile organisation established ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search