9 November 2017
DETAILS
Indorama Ventures Public Company Limited (IVL)
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
“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,”
Contacts IVL
For investors:
Richard Jones
Tel: +662.661.6661 ext. 680
richard.j@indorama.net
For media:
Naweensuda Krabuanrat
Tel: +662.661.6661 ext. 247
naweensuda.k@indorama.net
WWW.CHEMWINFO.COM BY KHUN PHICHAI
