On February 7, 2012, BlueDEF manufacturer Old World Industries
announced it will sell its chemical businesses to Indorama Ventures
of Bangkok, Thailand. The deal includes a manufacturing facility in
Clear Lake, TX.
BlueDEF will continue to be a part of Old World with no reported
change in personnel or structure. Old World is investing heavily in
Diesel Exhaust Fluid (DEF) infrastructure and this announcement may
signal an increased focus on the DEF industry.
Tom Hurvis, Chief Executive Officer of Old World, said the
decision "will allow Old World to focus all of its time and
resources on expanding the PEAK family of products," which includes
BlueDEF.
As part of the purchase agreement Old World will enter into a
long-term glycol supply contract with Indorama for its antifreeze
production in the U.S.