Polyplex Corporation to exit Polyplex Resins Sanayi Ve Ticaraet AS, Turkey
Sells stake to Indorama Netherlands B.V.
Polyplex Corporation announced that the Company's wholly owned subsidiary Polyplex (Asia), Singapore (PAPL), and step down subsidiary Polyplex Europa Polyester Film San Ve Ticaret. AS, Turkey (PE) in which the Company has 51% stake, have entered into a share purchase agreement to sell their respectively stake, 100% in aggregate in Polyplex Resins Sanayi Ve Ticaret AS, Turkey (PR) to Indorama Netherlands B.V., a wholly owned subsidiary of Indorama Ventures, Thailand (IVL).PR is not a material subsidiary of the Company.
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