INDORAMA
Purchase agreement to take over Bevpak (Nigeria) / PET preforms and closures production
Indorama Ventures (IVL, Bangkok / Thailand; www.indoramaventures.com) has announced that through its indirect subsidiary Indorama Netherlands, it has signed a definitive share purchase agreement to acquire 100% of the share capital of Bevpak (Nigeria) (Ibadan / Nigeria; www.bevpaknigeria.com). Bevpak manufactures monolayer and multilayer PET preforms as well as closures. The Nigerian company was established in 2008 and claims to be among the largest PET preforms manufacturers in West Africa, with a capacity of 18,000 t/y. The transaction is expected to be completed within Q1 2019.

Indorama has an indirect subsidiary named Indorama Ventures PET (Nigeria) in Port Harcourt / Nigeria, which according to Plasteurope.com's Polyglobe database (www.polyglobe.net) produces approximately 75,000 t/y of PET. The company says its PET chips are sourced from its facilities in Asia or Europe and shipped to Nigeria for final processing. The Port Harcourt site is adjacent to the Thai group's packaging production facility Indorama Ventures Packaging (Nigeria).

18.02.2019 Plasteurope.com [241787-0]
Published on 18.02.2019

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