Thai Indorama to acquire PIA, PET, PTA businesses of Cepsa Spain

17-Nov-15

Thailand's Indorama Ventures Public Co. Ltd. plans to acquire a 100% stake in the purified isopthalic acid, PET and purified terephthalic acid businesses of Cepsa Spain, as per Platts. Cepsa Spain operates plants at Guadarranque-San Roque, Cadiz, with a nameplate production capacity of 220,000 m tpa of PIA, 175,000 m tpa of PET and 325,000 m tpa of PTA. Pending regulatory approvals, the acquisition is expected to be completed within the first half of 2016. "The new acquisition in Spain is Europe's largest and only producer of 220,000 mt/year of PIA capacity and is the second largest producer in the world. This is IVL's first business in PIA, an essential component to produce PET and various other chemicals globally," IVL said.