IVL completes acquisition of Canada PTA plant
Indorama Ventures (IVL), a world-leading producer of intermediate petrochemicals, has completed the 100 per cent acquisition of the PTA business of CEPSA Chimie Montreal.
The 600,000 tonne PTA plant will provide Indorama Ventures with feedstock security to better serve its customers and anenhanced leadership position in North America.
The acquisition plan was announced on March 23.
"With the integration of the Canadian PTA facility, we now have all our global businesses present in North America and I believe this unique position is a win-win since we can now serve our customers more reliably and simultaneously to create accretive returns for our shareholders. Vertical integration into feedstocks has always been an important part of our global business strategy and we are now very excited to have finally completed the loop in our North American value chain,” said Aloke Lohia, Group CEO. “The PTA business in North America is robust and the timing of this acquisition comes with firmer margins and potentially firmer operating rates pending the results of the anti-dumping investigations on imported PET into USA."
