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Alpek to acquire two Petrobas subsidiaries
05
Jan '17
Petrochemical producer Alpek is acquiring 100 per cent stake in Companhia Petroquímica (Petroquímica Suape) and Companhia Integrada (Citepe) from Petróleo Brasileiro S.A. (Petrobras). Petroquimica Suape and Citepe operate an integrated PTA-PET facility in Brazil with an installed capacity of 700,000 and 450,000 tons per year of PTA and PET, respectively.

Citepe also operates a 90,000 tons per year texturised polyester filament plant at the same site. Alpek is acquiring both the companies from Petrobras for $385 million.

According to Alpek, the closure of this transaction will require further corporate approvals and is subject to several conditions, including approval by the appropriate government authorities.

Alpek is an integrated producer of PTA and PET in North America, the largest expandable polystyrene manufacturer in the Americas, and the only producer of Caprolactam in Mexico, while also operating one of the largest polypropylene facilities in North America. (AR)

Fibre2Fashion News Desk – India


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