Petrobras & Unipar create a global petrochemical company

16 Jun '08

3 min read

The Board of Directors of Quattor Participações is now composed of nine members, six of whom appointed by Unipar and three by Petrobras. Quattor Participações' new Board of Directors met this Wednesday (06/11) and elected a new executive board.

Also on this date, Suzano Petroquímica's Board of Directors met and elected a new executive board and approved the summons of a general meeting to elect a new Board of Directors and approve the change in Suzano Petroquímica's company name, which is expected to be Quattor Petroquímica S.A.

As a result of Fasciatus' incorporation by Quattor Participações, the corporate structure of the above-mentioned corporations is now as follows:

Quattor Participações, within 30 days beginning on this date, will request the Securities Exchange Commission (CVM) register the public offer of acquisition for the shares issued by PQU aiming at cancelling its registration as a publicly traded corporation. The offer will be made for the price of R$15.2741 per share.

Unipar and Petrobras believe that with the operations carried out on this date, they are forming a highly competitive, global scale petrochemical company, with capacity to produce, by late 2008, some 1.9 million tons of polyolefins, integrated to the production of 2.8 million tons of basic and intermediary petrochemicals, and with a privileged location in the Mercosur, given the proximity of its assets not only to the region's biggest consumption center but to the main sources of inputs as well.

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