Indorama Ventures Public Co. Ltd. (IVL; Bangkok, Thailand; www.indorama.net) announced that its subsidiary, Indorama Petrochem Ltd., Thailand, has signed a definitive share-purchase agreement with Bangkok Cable Co., to acquire a 94.91% equity stake in Bangkok Polyester Public Co. (BPC). BPC is a producer of polyethylene therephthalate (PET) polymers in Rayong, Thailand with a capacity of 105,000 metric tons per year (m.t./yr) PET. The value of the acquisition was not disclosed. Subject to customary approval, the transaction is expected to be completed in the second quarter of 2015.
Indorama acquires PET producer in Thailand
| By Mary Bailey