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LyondellBasell sells Petroken to Grupo Inversor
10
Feb '16
LyondellBasell, a US based chemicals and refining company, has announced the completion of the sales of its wholly owned subsidiary Petroken Petroquimica Ensenada S.A. (Petroken) to Grupo Inversor Petroquímica S.L. (GIP).

GIP purchased the subsidiary Petroken and the acquisation was closed for $184 million.

Petroken, which is a leading polypropylene producer in Argentina, operates a 180 kiloton plant in Ensenada.

LyondellBasell, recently announced its 2016 plans. “We plan to complete an 800 million pound ethylene expansion project, complete engineering for our one billion pound propylene oxide plant and finalise our polyethylene expansion plans,” said Bob Patel, CEO of LyondellBasell. (NA)

Fibre2Fashion News Desk – India

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