Indorama Ventures to become largest PET producer in the world

15 Nov '10

4 min read

It is currently anticipated that essentially all of INVISTA's Polymer & Resins' operations, marketing, sales, customer service, and research and development staff associated with the Spartanburg and Querétaro operations will be employed by Indorama after the sale is finalized, along with INVISTA Polymer & Resins' staff associated with that portion of the business based at administrative offices in Charlotte, North Carolina; and Santa Fe, Mexico.

INVISTA Polymer & Resins' Wilmington, N.C. site is not a part of the transaction, nor is INVISTA's European Polymer & Resins business, which includes manufacturing operations in Gersthofen, Germany. INVISTA will also retain certain intellectual property related to the polymer and resins business.

Deutsche Bank Securities Inc. acted as exclusive financial advisor, Lowenstein Sandler PC acted as lead counsel, and Jáuregui Navarrete y Nader, S.C. served as Mexican counsel to IVL on this transaction. On behalf of INVISTA, Morgan Stanley & Co. Incorporated acted as exclusive financial advisor and Latham & Watkins LLP acted as lead counsel.

Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB) is a leading producer in the polyester value chain in Thailand with strong global network and manufacturing across Asia, Europe and North America. Its products serve major players in diversified end use markets, including food, beverages, personal and home care, health care, automotives, textile, and industrial.

Indorama Ventures Public Company Limited

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