BANGKOK – Chemical company Indorama Ventures Public Co. Ltd. (IVL) recently completed its acquisition of Brazil-based Oxiteno S.A. Indústria e Comércio, becoming a leading global supplier in high-value surfactant markets.
The acquisition of Oxiteno, formerly a subsidiary of Ultrapar Participações S.A., was announced in August 2021 and became effective April 1, 2022, after the transaction was approved by Brazil’s Administrative Council for Economic Defense (CADE). Through the acquisition, IVL extends its growth profile into markets in Latin America and the United States, with additional potential to expand in Europe and Asia. Oxiteno will become part of IVL’s Integrated Oxides and Derivatives (IOD) business segment, which IVL formed in 2020 with the purchase of assets from U.S.-based Huntsman (Spindletop transaction).