Allen & Overy Aids Indorama In $795M Petrochemicals Buy

Law360, New York (February 07, 2012, 12:49 PM ET) -- World-leading polyester producer Indorama Ventures Public Co. Ltd. is purchasing Houston-based Old World Industries Ltd. and affiliate Old World Transportation Ltd., which produce ethylene oxide and ethylene glycol, for $795 million, IVL announced Tuesday.

According to Bangkok-based IVL, Old World is the largest EO/EG producer in the U.S., with crude EO capacity of 435,000 tons a year. Mono ethylene glycol is a key component in the production of polyethylene terephthalate and polyester fibers and yarns, which are part of IVL's downstream portfolio.

PET, a form of...
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