IVL Plans to Ink the Deal with “Ultrapar” to Acquire a PetroChem Plant in Brazil

Indorama Ventures Public Company Limited (IVL) stated that the company is in an exclusive negotiation with Ultrapar Participações S.A. (Ultrapar) for the possible purchase of the business of Ultrapar’s subsidiary Oxiteno S.A. Indústria e Comércio in Brazil.

Nevertheless, IVL stated that at this moment there is no sale and purchase contract or commitment signed between the parties.

Oxiteno S.A. Industria e Comercio manufactures petrochemical products. The company specializes in solutions for the Agrochemicals, Personal Care, Home & Institutional Cleaning, Oil & Gas, and Coatings markets. Oxiteno serves customers in Brazil.