Indorama to Acquire Stake in PT Polyprima to Secure PTA Supplies
Indorama Ventures has signed a definitive share-purchase agreement to buy a 50% stake in PT Polyprima.
PT Polyprima has a total production capacity of 465,000t/year of purified terephthalic acid (PTA).
The equity stake will allow Indorama Ventures to secure PTA supplies for its polyester plants in Indonesia.
The deal is expected to close in the fourth quarter of 2011, pending a debt restructuring of PT Polyprima.