Thailand's Indorama eyes acquire PTA plant purchases in Canada, Spain

27-Mar-15

Indorama Ventures, is acquiring purified terephthalic acid (PTA) assets in Europe and North America to boost its operations in western markets in a challenge to local manufacturers, as per Bloomberg. Thai petrochem major is believed to be in advanced negotiations to buy an additional polyster materials facility from Cia Espanola de Petroleos SAU to expand in Europe and North America, as per sources. No final agreement has been reached between Indorama and Abu Dhabi’s International Petroleum Investment Co. (the owner of Cepsa) about the San Roque based plant. An agreement has been reached to acquire a Canadian purified terephthalic acid site from Cepsa.