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Thailand’s Indorama to acquire Polyplex’s PET plant in Turkey

by ChemOrbis Editorial Team -
  • 09/01/2015 (10:44)
According to a press release on the company’s website, Thailand’s Indorama Ventures has signed a definite agreement with Turkey’s Polyplex Europa Polyester Film San ve Ticaret. A.Ş., a subsidiary of Thailand’s Polyplex and Singapore’s Polyplex (Asia) in order to acquire Polyplex Europa’s new PET resin plant, which is located in Tekirdag, Turkey. The plant is expected to have a PET capacity of 252,000 tons/year. The acquisition is expected to be closed in the first quarter of this year.

In a statement, the company reported that Turkey is the fastest emerging market in both Europe and the OECD given its strategic location for accessing markets in Southeast Europe. The company reportedly aims to reinforce their position as a preferred supplier to the beverage industry through the acquisition.

In the second quarter of 2014, Indorama Ventures acquired Artenius Turkpet’s 130,000 tons/year PET plant, which was renamed as Indorama Ventures Adana PET. Once the latest acquisition is completed, the company will increase their combined capacity in Turkey to 382,000 tons/year and thereby become top domestic PET producer in Turkey as well as the largest PET producer in Southeast Europe.
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