New York, NY - April 5, 2016 - Lowenstein Sandler LLP represented Thailand-based Indorama Ventures Public Company Limited (IVL) in its acquisition of a Decatur, Alabama 1,000-acre manufacturing facility from BP Amoco Chemical Company. The transaction, which closed on March 31, provides IVL with a plant that has 1 million metric tons of annual purified terephthalic acid (PTA) capacity and 732,000 metric tons of paraxylene (PX) capacity. The plant also produces naphthalene dicarboxylate (NDC).
The terms of the deal were not fully disclosed.
In connection with the acquisition, Lowenstein also represented Indorama Ventures in the negotiation of amendments to its existing U.S. term loan facility and its existing asset-backed credit facility that increased the combined availability under the facilities to approximately $1.2 billion.
The Lowenstein acquisition team was led by Partner Nicholas San Filippo IV, and included Nicholas Mehler, Christine Osvald-Mruz, Brian Silikovitz, Norman Spindel, Stuart Yusem, Samiul Khan, Ethan Skerry, Lesley Pruzansky Adamo, Eugene Cheval, Meredith Jewitt, Stacey Tyler and Robert Bee.
The Lowenstein financing team was led by Senior Counsel Stuart Yusem, and included Dimitrios Kandylas, Alex Brooks, Eric Rubin, Brian Silikovitz, Lesley Pruzansky Adamo, Keith Janowitz and Joe Mignone.
About Indorama Ventures
Indorama is one of the world's leading petrochemical producers and a leading global manufacturer of wool yarns, having locations in 20 countries, including 62 manufacturing sites, throughout Asia-Pacific, Europe, North America and Africa.
About Lowenstein Sandler
Lowenstein Sandler is a leading national law firm intensely devoted to our clients' success. We have built a reputation for pursuing every matter with creativity and passion. Our industry knowledge, entrepreneurial drive and proven commitment to our communities deliver a different and better law firm experience to our clients. We focus on building long-standing relationships, working side-by-side with our clients serving as more than attorneys, but as trusted advisors.
We approach each matter, each client and each other with integrity and respect. And, our award winning pro-bono work enables us to connect individuals and communities with unimaginable success. An Am Law 200 firm, we bring deep resources to our cases but our size ensures a personal relationship with senior leadership that brings results. We pride ourselves on being a different kind of law firm - one deeply rooted in the interest of our clients, our communities and our colleagues. For more information, please visit www.lowenstein.com.
Contact: Andrea Sheehy, 973-422-6758
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