Home / Knowledge / News / Textiles / Indorama Venture acquires Canadian PTA facility of Cepsa
Indorama Venture acquires Canadian PTA facility of Cepsa
24
Mar '15
Indorama Ventures which has been on an acquisition spree since the last few months has now acquired the Montreal; Canada based PTA business of Cepsa Química SA.

“The plant is the only PTA facility in Canada and one of only three PTA suppliers in North America,” Indorama ventures said in a press release.

“The acquisition, subject to usual regulatory approvals, will allow the company to expand its footprint into Canada,” the Thailand based producer of intermediate petrochemicals added.

Aloke Lohia, Group CEO said, “Cepsa provides us the unique opportunity to acquire assets that will consolidate our North American polyester value chain businesses for added feedstock security.”

“The acquisition is in line with our announced strategy to expand in our core businesses, primarily in the West,” he too added by saying.

Cepsa produces approximately 600,000 tons of PTA per annum at this plant and receives piped supply of its feedstock, Paraxylene from an adjacent refinery.

According to Indorama, the plant is logistically well placed to economically serve customers via rail access or via the St. Lawrence River.

Cepsa is an energy group fully owned by the International Petroleum Investment Company (IPIC) and employs more than 10,000 people and operates at every stage of the hydrocarbon value chain.

It is engaged in petroleum and natural gas prospecting and production activities, refining, transport and sale of crude oil and natural gas derivatives, biofuels, co-generation and electricity sales.

Cepsa has developed a world-class chemicals division that is tightly integrated with its oil refining segment, where feedstock is manufactured and sold for the production of high value added components.

It also has a prominent position in Spain and, through the continuing international expansion of its business; it also operates in 15 countries, marketing its products all over the world.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Priyanka
Studio Priyanka Rajiv

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search