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

Courtesy: Mat Brown from Pexels

Textiles | On 17th Jul 2018

India increases import duties on textiles & apparel

The Government of India has increased basic customs duty on several...

Luis Quijano

Textiles | On 17th Jul 2018

US varsity student cultivates bacterial cellulose in lab

Luis Quijano, a student at the Liberty University in Lynchburg,...

India's WPI inflation for apparel drops 1.3% in June

Apparel/Garments | On 17th Jul 2018

India's WPI inflation for apparel drops 1.3% in June

India's annual rate of inflation, based on monthly wholesale price...

Interviews View All

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Paolo Ocleppo
Sandvik Hyperion

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

Eamonn Tighe
Nature Works LLC

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

Akta Adani
India Boulevard

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

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search