Member ID:
Stay logged in for 30 days
Forget Your Password?

login CCFGroup App

Industry News | Time:Nov 13 2017 11:38AM
Indorama Ventures to Acquire Artlant PTA in Portugal Strong PTA position in Europe enhanced
Text size
Indorama Ventures Public Company Limited (IVL), a global chemical producer, will acquire the assets of Artlant PTA, S.A.’s (Artlant), including all equipment, surface rights and employment contracts. Artlant, a Purified Terephthalic Acid (PTA) plant in the Sines Industrial Complex in Portugal is a large PTA producer in Europe with a production capacity of 700,000 tonnes per annum adding substantial scale and enhancing IVL's PTA leadership in Europe.

IVL will also acquire the assets of adjacent utilities provider, Artelia Ambiente, S.A. (Artelia), which has a capacity of 40.390 MW of electricity, steam, demineralized water, wastewater treatment and hydrogen. This acquisition will benefit the company by securing energy supply to Artlant and sell excess power to the grid.

PTA is used as raw material for PET (Polyester) production. With the Company’s plan to grow its core businesses in the future, this feedstock security will be a solid basis for portfolio expansion. IVL expects to reduce cost and increase operational synergies via internal supply of feedstock and replace imports in Europe.

Mr. Aloke Lohia, Group CEO of Indorama Ventures, said, “Artlant fortifies our core PTA business and is a part of our successful vertical integration strategy. We can apply our scale and operational expertise while taking advantage of cost synergies and capture the opportunity for future growth and expansion.”

“We are confident that Artlant will drive the growth of the polyester business both in Portugal and the rest of Europe. It will support employment opportunities in the region, and help economic growth. I look forward to closing the deal in the fourth quarter of 2017,” Mr. Lohia concluded.
Related Articles
PTA/MEG market morning express (Feb 9, 2018)
PTA/MEG market morning express (Feb 8, 2018)
PTA/MEG market morning express (Feb 7, 2018)
PTA/MEG market morning express (Feb 6, 2018)
PTA/MEG market morning express (Feb 5, 2018)
PTA/MEG market morning express (Feb 2, 2018)
PTA/MEG market morning express (Feb 1, 2018)
PTA/MEG market morning express (Jan 31, 2018)
PTA/MEG market morning express (Jan 30, 2018)
Sinopec offers February PTA/MEG contract prices
Development of nylon 6 flat filament market
China's coal-based MEG market in 2017
Brief introduction of VSF overseas markets

浙公网安备 33010902000742号