Thailand's Indorama Ventures buys US ethylene business

Indorama Ventures buys Old World Industries' chemical business in Texas for $795 million.

Thailand's Indorama Ventures buys US ethylene business

As predicted, Asia is shopping abroad. In the latest example, Thailand’s Indorama Ventures has agreed to buy Old World Industries’ Texas-based ethylene business for $795 million.

Indorama Ventures is a global leading producer in what it bills as the “polyester value chain”, which really means it makes polyester on an industrial level. And that goes into more than just clothing it is also used in the packaging, healthcare and automobile sectors.

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