Home / Knowledge / News / Textiles / BRASKEM completes acquisition of Sunoco
BRASKEM completes acquisition of Sunoco
02
Apr '10
BRASKEM S.A. the eight-largest thermoplastic resin producer in the world and largest in the Americas, announced that it has completed its acquisition of the Polypropylene (PP) business of Sunoco Chemicals. The transaction, announced on February 1, was approved by the Federal Trade Commission and the Antitrust Division of the Justice Department of the United States of America. Braskem invested US$350 million in this acquisition as part of its strategy to establish an industrial base in the United States, which will serve as an important platform for its future international expansion.

The U.S. operations for Braskem now have the capacity to produce two billion pounds (950,000 tons) of PP per year, which represents 13% of the country's installed PP production capacity. The acquisition of Sunoco Chemicals and the resulting synergies provide customers with a broader portfolio of products and services.

With the acquisition of these assets, Braskem strengthens its international expansion strategy and its position as one of the global leaders in the PP industry, becoming the world's third-largest producer of PP with annual production capacity of 6.5 billion pounds (2,915,000 tons) per year. “We will take advantage of the experience of the current Sunoco Chemicals key executives, who have excellent knowledge of U.S. market. And the team will be reinforced by the arrival of new leaders who will bring expertise and practical experience of Braskem's successful strategy and business culture,” said Bernardo Gradin, Braskem's CEO.

With the headquarter of U.S. operations in Philadelphia, Braskem has three industrial units located in La Porte, TX; Marcus Hook, PA; and Neal, WV, as well as its Technology and Innovation Center in Pittsburgh. For the employees in the United States, the acquisition by a ompany with PP as partof its core business will bring new opportunities for growth and expanded customer relationships.

In addition to PP, Braskem's core business also includes Polyethylene (PE) and PVC. With annual gross revenue of nearly US$12 billion, the Company is integrated in the first and secondgeneration of the petrochemical chain. In 2009, Braskem exported over US$ 2 billion worth of products to more than 50 countries, which included resins and basic petrochemicals.

BRASKEM S.A.


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Top executives
Textile & apparel bodies

The decision is transformational

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Rikesh Mistry

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

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Larry L Kinn
Suominen Corporation

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

January 2018

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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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