Home / Knowledge / News / Textiles / Indorama Ventures closes deal for Old World MEG business
Indorama Ventures closes deal for Old World MEG business
Apr '12
Indorama Ventures Public Company Limited (IVL), the world's leading vertically integrated Polyester Value Chain producer, has closed the deal to acquire Old World Industries I, Ltd., and Old World Transportation Ltd. ("Old World"), a U.S.-based Ethylene Oxide ("EO") and Ethylene Glycol ("EG") producer for US$ 795 million. The deal was first announced in February 2012.

Old World, the largest single EO/EG production facility in the U.S. with Crude EO capacity of 435,000 tons per annum, is located in Clear Lake, Texas, near Houston. The area is at the heart of America's petrochemical industry and is networked by pipelines delivering feedstock. Old World will continue to serve the U.S. purified EO merchant market in addition to its glycol customer base.

IVL, the worlds largest Polyester/PET producer is integrated into PTA in Europe and Asia and virtually integrated in the USA via co-location with a PTA supplier in Alabama.

Mr. Aloke Lohia, founder and Group CEO of Indorama Ventures said, "I am particularly pleased to conclude this acquisition as I believe it is a game-changer for the company. We are now integrated into both our major feedstocks and expect to reap the benefit of the high demand for this product. To enter an industry that is forecast to enter an upcycle in the near future is good timing for us and I believe this is a business line we can build over time and remain as the most competitive global player best placed to both serve the customer needs and our shareholders interest."

Old World Industries, LLC, from whom Indorama Ventures purchased the EO/EG business, will continue to own and operate its Consumer Products Group business. Old World Industries CPG markets PEAK branded antifreeze, motor oil and wiper blades, as well as, Final Charge heavy duty coolant and BlueDEF diesel emissions fluid in North America and over 30 countries worldwide. Indorama Ventures will continue to supply Ethylene Glycol to the Consumer Products Group for its coolant business under a long term contract that was part of the purchase agreement.

Indorama Ventures

Must ReadView All

Textiles | On 27th Oct 2016

Teijin Frontier develops Solotex RC lightweight fibre

Teijin Frontier Co. Ltd, fibre products converting company and part...

Tosha Hays addressing the conference. Courtesy: College of Family and Consumer Sciences, UGA

Textiles | On 27th Oct 2016

Industry experts discuss future of fabrics at UGA

Industry experts, researchers and military officials discussed the...

Courtesy: Global Denim Awards

Fashion | On 27th Oct 2016

Anbasja Blanken & Italian mill ITV Denim win GDA

Dutch designer Anbasja Blanken and Italian mill ITV Denim was the...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Larry L Kinn
Suominen Corporation

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search