10.11.2017 • NewsElaine BurridgeIndorama VenturesPET

Indorama Takes Portugal’s Artlant PTA, PET,

(c) Picsfive/Shutterstock
(c) Picsfive/Shutterstock

Thailand’s Indorama Ventures, the world’s largest PET producer, has agreed to buy the assets of Artlant PTA in Portugal for an undisclosed sum.  The PTA plant in the Sines Industrial Complex is one of Europe’s largest with a capacity of 700,000 t/y.

“Artlant fortifies our core PTA business and is a part of our successful vertical integration strategy. We can apply our scale and operational expertise while taking advantage of cost synergies and capture the opportunity for future growth and expansion,” said Aloke Lohia, group CEO of Indorama Ventures.

Indorama will also acquire the assets of adjacent utilities provider, Artelia Ambiente, which supplies electricity, steam, demineralised water, wastewater treatment and hydrogen. The Thai company said it will benefit by securing energy supply to Artlant and will sell any excess power to the grid. The transaction is expected to close by the end of this year.

The Sines facility was formerly run by Spanish PET packaging group La Seda de Barcelona (LSB), which went bankrupt in January 2014. In the aftermath, the plant shut, was restarted and idled several times as the company’s financial woes deepened.

Artlant was declared insolvent by a Lisbon regional court in July of this year, with debts in the high triple-digit million range.

Innovation Pitch

The Start-up Platform for Chemistry & Life Sciences
Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.