Subsidiary of Lotte Group acquires UK based PTA and PET plant

A subsidiary of South Korean Lotte Group – K P Chemical, has completed acquisition of UK based PTA and PET plant. Lotte Chemical UK Ltd., the unit of KP Chemical, inked an agreement to buy the Arterius plant in Wilton for 26 bln won (US$22.4 mln). The Artenius plant has capacity to produce 500,000 tpa of purified terephthalic acid and 150,000 tpa of polyethylene terephthalate. The deal is part of the Korean firm's move to expand its presence in Europe.
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