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

Sabic: Rapid demand growth led to Ultem shortage

December 18, 2014 12:06 pm ET

Sabic Innovative Plastics has been increasing production capacity for its Ultem polyetherimide but it still got caught short by increasing demand for ...    More

Image

Amcor buys Chinese flexible packaging plant

December 18, 2014 1:47 pm ET

Australian-based global packaging company Amcor Ltd. is buying a Chinese flexible packaging business for 211 million RMB (US$31.4 million).    More

Image

Europe puts its 'Circular Economy' recycling effort on hold, for now

December 18, 2014 12:28 pm ET

The European Commission has withdrawn its Circular Economy initiative from its 2015 work program, and will instead replace it with “a new, more ...    More

Image

Indian auto parts maker set to buy assets in Germany, Mexico

December 18, 2014 10:35 am ET

Indian auto parts maker Samvardhana Motherson Gropup is buying the assets of insolvent German plastics car parts producer Scherer & Trier (S&T).    More

Image

Sweden's Indutrade buys Belgian packaging firm Verbeek

December 18, 2014 9:42 am ET

Sweden's Indutrade AB has purchased all the shares in Belgium's Verbeeck Packaging Group.    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events