Indorama Ventures Ltd (IVL) has completed the USD1.3bn acquisition of Brazil-based surfactants and specialty chemicals maker Oxiteno, said the company.
The acquisition of Oxiteno, formerly a subsidiary of Brazilian firm Ultrapar, was announced in August last year and is effective from 1 April 2022 after the transaction was approved by Brazil’s Administrative Council for Economic Defense (CADE), IVL said.
With 11 manufacturing plants, customers in 4 continents, and an experienced management team, Oxiteno will complement IOD’s footprint in the U.S and Latin America, while its 5 research and technology centers will add to IVL’s innovation credentials in green chemistry. The extended footprint has potential to drive expansion in Europe and Asia by leveraging on IVOX’s surfactants business in Australia and India and IVL’s global presence in 34 countries. IVL expects to realize synergies of US$100 million by 2025 through portfolio adjustments, asset optimization and operational excellence
.Oxiteno becomes part of IVL’s Integrated Oxides and Derivatives (IOD) business segment, which IVL formed in 2020 with the purchase of assets from US-based Huntsman.
In December 2021, Indorama Ventures Public Company Limited (IVL), a global chemicals producer, announced it agreed to acquire Brazil-based Oxiteno S.A. Industria e Comercio, a subsidiary of Ultrapar Participacoes S.A. The acquisition gives IVL a unique portfolio in high-value surfactants and significantly extends its existing Integrated Oxides and Derivatives (IOD) business.
Oxiteno is a leader in the production of surfactants and specialty chemicals in the Americas. The company started its operations in 1973, in Sao Paulo, and its purpose is to contribute to the well-being of people through chemistry. It invests in research and development to offer innovative solutions in line with its customers' business objectives. The company is present in eight countries in the Americas, Europe and Asia and has 11 industrial units in Brazil, the United States, Mexico and Uruguay, in addition to five R&D centers and eight commercial offices in Argentina, Belgium, China and Colombia. In Brazil, it has factories in the cities of Suzano (SP), Tremembe (SP), Triunfo (RS) and in the Maua Petrochemical Complex (SP) and Camacari Industrial Complex (BA). Since April 2022, it is part of Indorama Ventures.
mrchub.com