Thai Indorama completes acquisition of Brazil PET plant

25 May 2018 18:10 Source:ICIS News

HOUSTON (ICIS)--Indorama Ventures Public Co Limited (IVL) has completed the acquisition of Mossi & Ghisolfi's (M&G) polyethylene terephthalate (PET) plant in Brazil, the company said on Friday.

Photo by Mood Board/REX/Shutterstock

IVL completed all of the closing formalities and took control of the operations on Thursday, the company said in a filing with the Stock Exchange of Thailand.

The plant is in Ipojuca, Pernambuco state, and it has a PET capacity of 550,000 tonne/year.

M&G operated the plant under M&G Polimeros Brazil.

By Al Greenwood