Indorama Ventures completes acquisition of PET maker SK Eurochem

02 March 2011 13:27  [Source: ICIS news]

PRAGUE (ICIS)--Thailand’s Indorama Ventures has completed the acquisition of Poland-based polyethylene terephthalate (PET) resin manufacturer SK Eurochem from South Korea’s SK Chemicals, Indorama said on Wednesday.

“With this acquisition we have achieved our strategic plan to grow further our interests in PET resin production in Europe and consolidate on an already solid platform to serve our customer needs,” said Stephen Short, director of business and commercial development for UAB Indorama Polymers Europe.

SK Eurochem operates a 140,000 tonne/year PET plant at Wloclawek, Poland.

The acquired company has now been renamed as Indorama Polymers, Short said.

Indorama did not disclose financial information about the acquisition.

On 23 February, Poland’s PKN Orlen said it had agreed to deliver feedstock from its new 600,000 tonne/year purified terephthalic acid (PTA) plant, also located at Wloclawek, to SK Eurochem. 

When announcing its agreement to buy SK Eurochem last December, Indorama also stated that it was to acquire SK Chemicals’ PET resin manufacturer PT SK Keris, together with its polyester fibres and yarns subsidiary, PT SK Fiber, which are based in Indonesia.

For more on polyethylene terephthalate visit ICIS chemical intelligence
Please visit Will Beacham’s Look East for Chemicals blog
For more on PKN Orlen visit ICIS company intelligence

By: Will Conroy
+44 20 8652 3214

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