Suzano Petroquimica ready to acquire share of Polibrasil PP business from Basell
27 Jun '05
2 min read
Netherlands based textile raw material manufacturer Basell announced it has reached an agreement in principle to sell its 50% share of its Brazilian joint venture's (Polibrasil) polypropylene business to Suzano Petroquimica S.A., its partner in the enterprise. At the same time, Basell will acquire full ownership of the Polibrasil PP compounding business that produces resins primarily for the automotive industry.
Polibrasil is operating polypropylene plants with a total capacity of 625 KT at three sites in Brazil and has a 25 KT compounding facility.
“We have enjoyed a valued connection with Suzano for over three decades, and wish them success in their future activities,” said Ian Dunn, president of Basell International. “We continue to believe that Brazil and South America are important, strategic markets for polyolefins. This decision is a reflection of Basell's ongoing portfolio management, which includes looking at every aspect of our business and asset base on a regular basis.”
“We will continue to have access to all markets in South America for all of Basell's products,” said Dunn. “Our existing strategic investments and the completion of the new compounding plant in Brazil will enable Basell to continue providing exemplary support and value to our South American polypropylene and advanced polyolefins customers.”
Basell is the world's largest producer of polypropylene and advanced polyolefin products, a leading supplier of polyethyleneandand catalysts, and a global leader in the development and licensing of polypropylene and polyethylene processes. Basell, together with its joint ventures, has manufacturing facilities around the world and sells products in more than 120 countries.
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