IVL would like to announce that it will be forming a 50:50 Joint Venture Company with PCH
Holding S.R.L. (PCH) in Europe for the acquisition of manufacturing assets of a PTA and
PET business in Italy, Europe.
IVL has signed a definitive agreement along with its joint venture partner, PCH to acquire
the PTA and PET assets in Italy belonging to Equipolymers (a joint venture between the
Dow Chemical Company and Petroleum Industries Company of Kuwait) on 24 March, 2010
which is subject to usual regulatory approvals. The transaction is expected to be completed
by the end of May 2010.
The details of said Joint Venture and the acquisition of the PTA/PET assets will be updated on IVL website upon completion. |
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