Home / Knowledge / News / Textiles / Total to buy ExxonMobil's stake in Fina Antwerp Olefins
Total to buy ExxonMobil's stake in Fina Antwerp Olefins
24
Dec '11
Total, through its 100% affiliate PetroFina SA, signed an agreement with ExxonMobil Petroleum & Chemical BVBA under which ExxonMobil is to transfer to Total its 35% shareholder interest in Fina Antwerp Olefins.

The transaction is subject to the approval of the European competition authorities. Once the transaction is completed, Total will be the sole shareholder in Fina Antwerp Olefins.

Fina Antwerp Olefins, in which Total currently has a 65% interest, was set up in Antwerp in 1951. This plant is the second largest in Europe for the production of base chemicals products, including ethylene, propylene and benzene. Some of the plant's output is used by Group units, in particular in both Antwerp and Feluy, to manufacture polymers.

With this acquisition, Total consolidates its position in the Antwerp platform, which also houses the refinery Total Raffinaderij Antwerpen and the polyethylene plant Total Petrochemicals Antwerpen. The acquisition will open new opportunities to strengthen the competitiveness of the assets and to pursue integration which is one of the foundations of Total's strategy.

Total Petrochemicals is one of the world's largest petrochemicals producers. Its business includes base petrochemicals from steam crackers and certain refinery processing plants – olefins (ethylene, propylene), C4 fractions and aromatics (benzene, toluene, xylene and styrene) –, as well as the commodity polymers derived from them (polyethylene, polypropylene, polystyrene).

Total Petrochemicals employs about 6,000 persons in Europe, the United States, the Middle East and Asia. Its products are used in many consumer and industrial markets, including packaging, construction and automotive.

Total is one of the largest integrated oil and gas companies in the world, with activities in more than 130 countries. The Group is also a first rank player in chemicals.

Total Petrochemicals


Must ReadView All

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Apparel/Garments | On 21st Sep 2017

BFC announces partnership with Chinese firm JD.com

The British Fashion Council (BFC) has forged a new partnership...

Textiles | On 21st Sep 2017

Indonesia’s textile exports may reach $15 billion by 2019

Indonesia’s textile-related exports are projected to reach $15...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Larry L Kinn
Suominen Corporation

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Silvia Venturini Fendi
Fendi s.r.l

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

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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