Indorama to acquire PET producer in India

摘要

Indorama Ventures (Bangkok) today announced that it will acquire polyethylene terephthalate (PET) manufacturer Micro Polypet Pvt. Ltd. (MicroPet; New Delhi). MicroPets PET plant is located at Panipat, 90 kilometers north of New Delhi and has a production capacity of 216,000 m.t./year. MicroPet is a joint venture of Action Group (New Delhi) and chemicals company RLG Group (Vadodara, India). Action Group began its operation as a footwear manufacturer and diversified into other sectors. Financial details of the acquisition, which is subject to necessary legal approvals, have not been disclosed.