07/05/2010

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Equipolymers sells PTA, PET production facility to Ottana Energia and Indorama

There are approximately 120 employees at the Ottana facility, located on the island of Sardinia, Italy. The sale was concluded on 1 July 2010. Financial details were not disclosed.
"The decision to sell the Ottana assets was made to sustain the long-term value of the site while enabling our Equipolymers production facilities in Schkopau, Germany, to focus on R&D and new technologies in markets that best serve our customers”, said Ramesh Ramachandran, President and CEO for Equipolymers. "This move will allow us to maximise access to key raw materials and improve our cost structure over the longer term.”
Ottana Energia currently operates a 140 MW power and utilities plant on the Ottana manufacturing site. Indorama is a global chemical producer of PTA, PET and polyester fibres based regionally in Thailand, the Netherlands, Lithuania, and the USA. Equipolymers, headquartered in Dubai, UAE, is a 50-50 joint venture between Dow Chemical and the Petroleum Industries Company (PIC) of Kuwait.

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