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Specialty Chemicals

Indorama to buy Oxiteno for $1.3 billion

by Alexander H. Tullo
August 19, 2021 | A version of this story appeared in Volume 99, Issue 30
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A photo of a chemical plant in Texas.
Credit: Oxiteno
Oxiteno's alkoxylation plant in Pasadena, Texas

Thailand’s Indorama has agreed to buy the Brazilian specialty chemical producer Oxiteno from the conglomerate Ultrapar Participações for $1.3 billion. The companies disclosed in June that they were negotiating a possible transaction. Oxiteno produces ethylene oxide and ethoxylated derivatives such as surfactants. It posted $1.0 billion in sales in 2020. Indorama has been diversifying beyond its core polyester business and bought a surfactants business from Huntsman last year. Indorama expects to close the deal early in 2022.

Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society

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