IVL acquisition of Cepsa Business in Spain complete
Chemical producer Indorama Ventures Public Company Limited (IVL) has announced the acquisition of 100% of the Purified Isopthalic Acid, Polyethylene Terephthalate (PET and Purified Terephthalic Acid (PTA) assets of Cepsa Química S.A., a subsidiary of Compañía Española de Petróleos S.A.U. (“CEPSA”) in Guadarranque-San Roque, Cadiz, Spain. The company will be renamed Indorama Ventures Química S.L.U.
All closing formalities are completed. IVL has taken charge of the operation effective April 7, 2016. The acquisition is said to make Indorama Ventures a world-leading producer of Isopthalic Acid, a key chemical additive in the manufacture of PET for packaging. In addition, the acquisition is intended to provide IVL with a stronger base in Europe.
