Cepsa agrees to sell its Montreal PTA petrochemical business to Indorama

It will focus its efforts on those markets where it enjoys a strong presence.

The agreement is subject to approval by the relevant authorities. The working conditions of the personnel involved will not be affected during the sale process.

Cepsa has agreed with Indorama, company Based in Thailand, the sale of your of PTA business Canadian. This transaction will allow the Company to focus the growth of its petrochemical division on those areas in which it is a leader. As is usual in these cases, this agreement is subject to approval by the competent authorities.

Cepsa's main objective has been to ensure the sale of its PTA plant (raw material for polyester manufacturing ) in Montreal to a world leader in the sector , and that the current working conditions of all personnel involved would not be affected during the sale process.

Thus, Cepsa's plans involve focusing its efforts on those markets where it enjoys a strong presence and the capacity to develop its assets to the fullest , such as the phenol, acetone and LAB/LABSA business lines in Spain, Canada, Brazil, China and Indonesia.

Indorama is a world-leading polyester producer with a strong presence in the North American market . It consumes approximately 1,1 million tons of PTA annually for PET production. The company employs 14.000 people and has annual revenue of $7,5 billion.

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