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IVL acquires CEPSA Spain's PIA, PET & PTA business
08
Apr '16
Indorama Ventures Limited (IVL), a world-class chemical producer, has announced the acquisition of 100 per cent of Purified Isopthalic Acid (PIA), Polyethylene Terephthalate (PET) and Purified Terephthalic Acid (PTA) assets of Cepsa Quimica, a subsidiary of CEPSA in Spain.

The acquisition makes IVL a world-leading producer of Isopthalic Acid, a key chemical additive in the manufacture of PET for packaging as well as consolidating our strategy in Europe.

Commenting on the acquisition, Aloke Lohia, Group CEO of IVL said, “The acquisition provides Indorama Ventures with a stronger base in Europe, and will allow us to simplify logistics costs in the region. The addition of the key chemical, Isopthalic Acid, provides us with a high value-added business that is a good fit in our international strategy.”

“Our Spanish assets will complement IVL's existing portfolio in Europe with consolidation of PTA and PET assets and with addition of PIA, a high value added business. We see some debottlenecking opportunities at the plant that will increase efficiency,” Lohia said.

“We have a great team onboard now, and I would like to take the opportunity to welcome both the employees and customers of Cepsa, and look forward to working closely with them going forward,” he added. (MCJ)

Indorama Ventures

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