Home / Knowledge / News / Textiles / Equipolymers to sell PTA & PET production plants
Equipolymers to sell PTA & PET production plants
30
Mar '10
Equipolymers announced that it has signed a definitive agreement to sell its pure terephthalic acid (PTA) and polyethylene terephthalate resins (PET) production facilities at its manufacturing site in Ottana, Italy to a joint-venturebetween Ottana Energia and Indorama. Ottana Energia, owned by Paolo Clivati, currently operates a 140 megawatt power and utilities plant on the Ottana manufacturing site. Indorama is a global chemical producer of PTA, PET and polyester fibers based regionally in Thailand, the Netherlands, Lithuania, and the USA. Financial terms of the agreement were not disclosed.

“The decision to sell the Ottana assets was made to sustain the long-term value of the site while enabling our Equipolymers production facilities in Schkopau, Germany to focus on R&D and new technologies in markets that best serve our customers,” said Ramesh Ramachandran, president and CEO for Equipolymers. “This move will allow us to maximize access to key raw materials and improve our cost structure over the longer term.” Throughout this process both Dow and PIC have been committed to finding a solution that would ensure the future viability of the site and continued employment for the local residents

There are approximately 120 employees at the Ottana facility, located on the island of Sardinia, Italy. The facility produces PTA as raw material, and PET a high quality plastic use extensively in the packaging and beverage industry. Equipolymers will continue to run its manufacturing facility in Schkopau, Germany.

Petrochemical Industries Company (PIC)

Must ReadView All

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Textiles | On 27th Apr 2017

Seven new organisations join ZDHC Programme

The Zero Discharge of Hazardous Chemicals (ZDHC) Programme from...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mohammad Hassan
Biax Fiberfilm

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

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

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:
April 2017

April 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



X