IVL arm inks deal to buy largest PTA plant in U.S. polymers industry

Date: 2018-03-27   Author: Saipriya Iyer  Category: #industry

IVL arm inks deal to buy largest PTA plant in U.S. polymers industry

In what may be touted as a major incidence in the polymers & advanced materials industry, Indorama Ventures Holdings LP has signed an acquisition deal with the M&G USA Corporation for acquiring a unit in Corpus Christi near Texas. Reliable sources state that the plant is under construction and is expected to manufacture polymers such as polyethylene perephthalate resin and purified terephthalic acid.

For the record, Corpus Christi Polymers LLC, a joint venture between Indorama Ventures Holdings, Far Eastern Investment Limited, and Alpek SAB de CV, has also signed an asset purchase pact with the M&G USA Corporation. As per the deal, CC Polymers will buy the establishment along with the intellectual property rights of M&G as well as a boiler plant for providing steam & water to the unit.

Reports reveal that the purchase deal provides M&G with a cash offer as well as other capital contributions, assessed at USD 1.13 billion. Apparently, the new integrated PET-PTA unit will possess a nominal production capacity of nearly 1.3 million and 1.1 million metric tons post the completion of the plant construction. The facility at Corpus Christi, Texas, is projected to be the biggest single line vertically combined PET-PTA manufacturing unit across the globe and the largest PTA manufacturing establishment in the United States.

As per the terms & conditions of the latest agreement, Alpek, Far Eastern, and Indorama will be liable to obtain one-third of the PTA & PET manufactured at Corpus. The closure of the purchase deal between IVG and M&G USA Corp. is subject to the approval from the U.S. bankruptcy court & related government authorities. Early this month, Indorama Ventures Limited had also declared the purchase of the assets from the M&G Polimeros Brazil, thereby helping the firm strengthen its hold in polymers & advanced materials industry.



About Author


Saipriya Iyer linkdin-boxtwitter

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

Post Recommendents

Hemoglobin Testing Devices Market by Growth Factors Analysis and Opportunities Analysis to 2025

Author: Rahul Varpe

A highly analytical qualitative as well as quantitative evaluation of the Hemoglobin Testing Devices Market has been covered in this report. The study evaluates the myriad aspects of this industry by taking into consideration its historical and fo...


Rat Model Market to 2028 - Development Status and Application Analysis

Author: Rahul Varpe

An extremely definite evaluation of the Rat Model Market in terms of qualitative as well as quantitative analysis has been covered in this report. The myriad aspects of this industry, having considered its historical and forecast data have been en...


Electrosurgical Generators Market - Regional Outlook and Competitive Strategies to 2025

Author: Rahul Varpe

The report overall depicts the potential opportunities for the Electrosurgical Generators Market till the year 2025 based on SWOT analysis, growth strategies by the major vendors prevalent in the current scenario, surveys highlighting the current ...