Lagos—Indo-rama Ventures' (IVL) board of directors has approved the acquisition of an unidentified Nigerian packaging company, a move it described as "a forward integration" for IVL's polyethylene terephthalate (PET) segment. IVL last year started up an 84,000-t/y PET bottle resin production facility in Port Harcourt, Nigeria (PCN, 23 July 2012, p 1). At that time, the company said the new plant "establishes its foothold in the estimated 450,000-t/y PET market for Africa, which currently has only one other PET producer."
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