IVL Completes the “Huntsman” Deal to Strengthen Oxides Business Overseas

Indorama Ventures Public Company Limited (IVL) has announced that all formalities with regards to the Huntsman’s deal has been completed on 3rd January 2020.

 

On 8th August 2019, IVL had made an acquisition of certain integrated Oxides and Derivatives businesses/assets from Huntsman Corporation, USA, located in: (i) Port Neches, TX, USA; (ii) Dayton, TX, USA; (iii) Alvin (Chocolate Bayou), TX, USA; (iv) Botany, New South Wales, Australia; and (v) Ankleshwar, India.

This acquisition reinforces IVL’s Integrated Oxides and Derivatives (IOD) segment’s continued development as envisaged in IVL’s strategy announced in February 2019 and includes much sought-after portfolios of value-added EODs and Propylene Oxide (PO) Derivatives, each coming with its own strong market position.

The acquisition comes with its own strong R&D and technical capabilities apart from a portfolio of about 900 patents and other intellectual properties. Entry into Australia will further diversify Indorama’s geographic presence.

The Huntsman assets and IVL assets are managed by extremely talented people who together will forge a successful global footprint and leverage the financial and commercial skills of IVL to create shareholder value. The transaction is funded by IVL’s internal cash flows and debt financing only and does not necessitate any equity dilution.