Indorama's purchase of Sasa to give wider access to multiple markets

Jaroslaw Adamowski
EUROPEAN PLASTICS NEWS

Published: April 16, 2014 10:07 am ET
Updated: April 16, 2014 10:33 am ET

Related to this story

Topics Materials, Mergers & Acquisitions, Africa, Asia, Europe, Materials Suppliers
Companies & Associations Indorama Ventures Public Co. Ltd.

PET maker Indorama Ventures Public Co. Ltd. is expanding in Turkey with the acquisition of a majority of Sasa Polyester Sanayi.

Bangkok-based Indorama bought a 51 percent share in Sasa from its parent company, Sabanci Holding in a deal announced April 10 worth $62 million, Sabanci said in a filing with the Istanbul Stock Exchange.

Indorama’s wholly-owned European subsidiary, Indorama Netherlands B.V. will hold the Sasa shares.

Indorama says Sasa’s product range includes polyester staple fibers, PET, thermoplastic polyester elastomers and dimethyl terephthalate, which is the main monomer of PET and PBT polymers, as well as various plasticizers.

The company launched production of polymers in 1966 and operates two plants located in Adana, in Turkey’s south.

“Sasa has a rich heritage of technology and expertise which will be complementary to Indorama Ventures since Sasa is now serving over 54 countries with 150 different types of products,” said Indorama CEO Aloke Lohia in a news release. “Turkey’s unique geographical position straddling Europe, North Africa, Central Asia and the Middle East offers the potential for faster growth in both the domestic and export markets to neighboring countries and Europe.”

Sasa has total production capacity of 600,000 metric tons per year.

The acquisition marks another step in Indorama’s expansion to the Turkish plastics market. In March 2014, Turkish competition watchdog Rekabet Kurumu authorized Indorama to take over local PET packaging producer Artenius TurkPET A.Ş. The Dutch company acquired the polymer maker from Spain’s plastic packaging producer La Seda De Barcelona.


Comments

Indorama's purchase of Sasa to give wider access to multiple markets

Jaroslaw Adamowski
EUROPEAN PLASTICS NEWS

Published: April 16, 2014 10:07 am ET
Updated: April 16, 2014 10:33 am ET

Post Your Comments


Back to story


More stories

Image

DuPont investing $100 million for more ethylene copolymer capacity

September 16, 2014 1:51 pm ET

Increased packaging demand is leading materials giant DuPont Co. to spend more than $100 million to increase capacity for ethylene copolymers at its...    More

Image

Latvian plastics recycler Nordic Plast boosts capacity

September 16, 2014 10:15 am ET

Latvian plastics waste recycler Nordic Plast Ltd. has invested more than 2.5 million euros ($3.2 million) to expand capacity and modernize production ...    More

Image

ZF finalizes deal to buy TRW, creating another global auto supply giant

September 15, 2014 1:09 pm ET

TRW Automotive Holdings, in a supply chain megadeal that has been in the works since mid-July, said Sept. 15 it has agreed to be acquired by German...    More

Image

Sabic, Chinese Academy of Sciences sign five-year development agreement

September 15, 2014 11:54 am ET

Ties between one of the world's biggest oil producers and one of its biggest consumers grew tighter Sept. 12 with the announcement of a five-year...    More

Image

BASF analyzes products based on sustainability potential

September 15, 2014 11:48 am ET

Chemicals giant BASF SE has created a new process for managing its product portfolio based on sustainability criteria.    More

Market Reports

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events