Indorama steps up its US acquisition efforts - sportstextiles: Lea SportsTextiles

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Indorama steps up its US acquisition efforts

03/01/2019
Polymer, fibre and chemicals manufacturing group Indorama has announced the joint venture it put together to acquire the assets of US PET and PTA maker M&G USA has received regulatory clearance from the US Federal Trade Commission. 

Its partners in this joint venture are Mexican group Alpek and investment company Far Eastern Holding. They will acquire M&G’s plant in Corpus Christi, Texas as well as certain intellectual property and a desalination/boiler plant. 

Indorama has described the Corpus Christi plant as the largest of its kind in North America. Its annual capacity is 1.1 million tonnes of PET and 1.3 million tonnes of PTA. The three joint-venture partners will each take one-third of the capacity produced. 

Separately, Indorama announced that it has agreed to acquire a PET recycling facility in Alabama from Custom Polymers PET. It has two production lines, one for recycled PET flake and one for food-grade recycled PET pellets. Its combined capacity is 31,000 tonnes per year. 

Related stories:

Indorama launches new line of recycled PET products 14/05/2019
Indorama takes a stake in Indian fibre manufacturer 04/04/2019
Indorama’s revenue exceeded $10 billion in 2018 27/02/2019
Indorama puts another piece in the jigsaw in Brazil 25/02/2019
Invista sells resins and fibres business to Indorama 20/12/2018
Indorama’s sustainability report is the pick of the bunch 13/12/2018
Indorama expects to thrive in difficult environment 09/11/2018
Indorama expands its presence in Brazil 05/11/2018
Indorama commits to “new plastic economy” initiatives 01/11/2018
Indorama makes European worsted wool yarn acquisition 04/10/2018
Indorama in new polyester recycling joint-venture 25/09/2018
Indorama vice-president takes part in next-generation leaders event 07/09/2018
Indorama to pursue further acquisitions after strong H1 10/08/2018
Indorama acquires French PET recycling plant 03/08/2018
Indorama acquires PET plant in Egypt 26/06/2018

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