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Indorama Ventures acquires M&G USA

March 20th, 2019 / By: / Industry News, News

Indorama Ventures Public Co. Ltd., a global chemical producer, has received the regulatory
clearance required from the U.S. Federal Trade Commission for the joint asset purchase of M&G
USA Corp. and its affiliated debtors. Indorama Ventures, Alpek, S.A.B. de C.V., and Far Eastern
Investment (Holding) Ltd., entered into a joint venture agreement to acquire M&G’s Corpus Christi
plant through Corpus Christi Polymers LLC. The acquisition also includes certain M&G intellectual
property, and a desalination/boiler plant. The plant will have nominal capacity of 1.1 million and
1.3 million metric tons per year of PET and PTA, respectively. The three joint venture parties will
each receive one-third of the capacity produced.

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