Indorama Ventures (IVL, Bangkok / Thailand; www.indoramaventures.com) on 8 April completed its acquisition of the purified isopthalic acid, PET and PTA assets of Cepsa Química (Cadiz / Spain) – for previous coverage, see Plasteurope.com of 17.11.2015. The former subsidiary of Compañía Española de Petróleos (Cepsa, Madrid; www.cepsa.com) will now operate as Indorama Ventures Química. Financial details of the deal were not disclosed.

The fully integrated production facilities for PET and its feedstocks at San Roque / Spain include plants for 325,000 t/y of purified terephthalic acid (PTA) and 220,000 t/y of purified isophthalic acid (PIA), along with 175,000 t/y of PET polymer. Group CEO Aloke Lohia said the purchase – which comes just days after IVL completed its acquisition of BP’s (London / UK; www.bp.com) PX, PTA and NDC complex in Decatur, Alabama / USA (see Plasteurope.com of 05.04.2016) – “provides Indorama Ventures with a stronger base in Europe and will allow us to simplify logistics costs in the region.” Lohia added that the company has identified a number of debottlenecking opportunities at the plant, which he said will increase efficiency.