Home / Knowledge / News / Textiles / Alpek bags 60 day period to acquire Petroquímica & Citepe
Alpek bags 60 day period to acquire Petroquímica & Citepe
08
Aug '16
Courtesy: Alpek
Courtesy: Alpek
Alpek said it has received an exclusive 60 day period to conduct negotiations with Petróleo Brasileiro S.A. (Petrobras) to acquire its stake in Petroquímica Suape and Companhia Integrada (Citepe).

Petroquimica Suape and Citepe operate an integrated PTA-PET facility in Brazil with an installed capacity of 700,000 tons of PTA and 450,000 tons of PET.

Citepe also operates a 90,000 tons per year texturised polyester filament plant on the same site.

“In the event the parties reach an agreement, the closing of this transaction will require further corporate approvals and approval by the appropriate governmental authorities,” Alpek added.

Alpek produces various petrochemicals like PTA, PET, polypropylene, expandable polystyrene, caprolactam, and also polyester fibres.

Alpek operates 22 plants in the United States, Mexico, Brazil, Argentina and Chile, and employs more than 5,000 people. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.6%
No
13.4%
Skip
9.0%

Total Votes: 67

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.2%
No
28.4%
Skip
10.4%

Total Votes: 67

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.1%
No
10.4%
Skip
4.5%

Total Votes: 67

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.6%
No
11.9%
Skip
13.4%

Total Votes: 67


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search