Thai Indorama completes acquisition of Brazil PET plant 28th May 2018
Indorama Ventures Public Co Limited has completed the acquisition of Mossi & Ghisolfi’s (M&G) polyethylene terephthalate (PET) plant in Brazil. The plant,which M&G operated under M&G Polimeros Brazil, is in Ipojuca, Pernambuco state, and it has a PET capacity of 550,000 tonne/year.
PET is the most common thermoplastic polymer resin of the polyester family and is used in fibres for clothing, containers for liquids and foods, thermoforming for manufacturing, and in combination with glass fibre for engineering resins. The global PET market was valued at $23,891 million in 2016, and is expected to reach $38,014 million by 2023.