Reliance to Buy Polyester Manufacturer in Malaysia

摘要

Reliance Industries Ltd.(RIL;Mumbai) says it has signed an agreement to acquire polyester producer Hualon Corp.(Kuala Lumpur) in a deal that would boost Reliance's polyester production by 25%,to 2.5 million tons/year.Reliance will acquire the 800-million company from Ernst & Young,Malaysia (Kuala Lumpur),which is the appointed receiver and manager for Hualon.Terms were not disclosed.Some media reports say that Reliance could pay 150 million-250 million for the assets,however.The agreement is pending regulatory approval.