INDORAMA
Acquisition of Huntsman's propylene oxide and MTBE activities completed
 Hunstman's Port Neches site (Photo: Huntsman) |
Indorama Ventures (IVL, Bangkok / Thailand; www.indoramaventures.com) completed the takeover of Huntsman’s (The Woodlands, Texas / USA; www.huntsman.com) propylene oxide and MTBE activities (see Plasteurope.com of 12.08.2019) on 3 January 2020. The transaction is valued at around USD 2 bn (EUR 1.8 bn), with the final purchase price subject to customary post-closing adjustments.
The buy includes the cracker at Port Neches, Texas, as well as businesses/assets in Dayton, Texas, Chocolate Bayou, Texas, Botany / Australia and Ankleshwar, Gujarat / India. There are also around 900 patents and other intellectual property.
In Port Neches, the TPC Group’s petrochemical plants were severely impacted after a massive explosion at the end of November 2019 (see Plasteurope.com of 05.12.2019). In the first week of January, TPC reported that the restart of unspecified equipment (that includes flaring) is to help ensure materials are safely transferred out of the facility during the de-inventory process.
The buy includes the cracker at Port Neches, Texas, as well as businesses/assets in Dayton, Texas, Chocolate Bayou, Texas, Botany / Australia and Ankleshwar, Gujarat / India. There are also around 900 patents and other intellectual property.
In Port Neches, the TPC Group’s petrochemical plants were severely impacted after a massive explosion at the end of November 2019 (see Plasteurope.com of 05.12.2019). In the first week of January, TPC reported that the restart of unspecified equipment (that includes flaring) is to help ensure materials are safely transferred out of the facility during the de-inventory process.
08.01.2020 Plasteurope.com [244244-0]
Published on 08.01.2020
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