Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Textiles / Indorama withdraws from deal to acquire SASA Polyester
Indorama withdraws from deal to acquire SASA Polyester
19
Jan '15
Thailand based and global fibres and petrochemicals producer, Indorama Ventures (IVL) is pulling out of an agreement to acquire SASA Polyester Sanayi AS (SASA) in Turkey.

In a Thailand stock exchange filing, Indorama said both sides have mutually agreed to withdraw from implementing the acquisition of SASA.

Indorama added that it has decided to focus on its PET footprint in Turkey.

In April 2014, IVL had said it is acquiring 51 per cent of SASA Polyester Sanayi A.S, a polyester and PET producer, through its subsidiary Indorama Netherlands B.V. from Haci Omer Sabanci Holding AS.

SASA incorporates integrated feedstock and polymer facilities producing DMT, staple fibers, filament yarns, PET, PBT polymers and specialty chemicals with a total plant capacity of 600,000 tons per annum.

Last week, IVL had said it has reached a definitive agreement with Polyplex Europa Polyester Film San ve Ticaret. A.S., Turkey, to fully acquire its PET resin plant with a planned capacity of 252,000 tons per year.

Following the acquisition of the 130,000 tons Artenius Turkpet plant, IVL said it now has a total PET capacity of 382,000 tons in Turkey, making it a clear number one domestic PET producer in Turkey. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Asmara Group

Apparel/Garments | On 20th Sep 2018

Fragmented nature of Indian apparel sector major challenge

A major challenge for the Indian apparel sector is its fragmented...

Courtesy: Aditya Birla Retail

Apparel/Garments | On 20th Sep 2018

Indian Aditya Birla Retail to be acquired by Samara-Amazon

India’s Aditya Birla Group has signed a deal to sell Aditya Birla...

India's 2018-19 forward cotton export contract up by 100%

Textiles | On 20th Sep 2018

India's 2018-19 forward cotton export contract up by 100%

Rise in demand from China, lower domestic prices and depreciation of...

Interviews View All

Cyril Pereira, Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Rahuul Jashnani, Jashn

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

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

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

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

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

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

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

Leave your Comments


September 2018

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

news category


Related Categories:

Advanced Search