Braskem completes acquisition of PP business of Dow Chemical
01 Oct '11
1 min read
Braskem S.A., the largest thermoplastic resin producer in the Americas, announced that it has concluded the acquisition of the Polypropylene business (“PP”) of The Dow Chemical Company. The transaction, announced on July 27, was approved by the Federal Trade Commission, the Antitrust Division of the Justice Department of the United States of America and by the European Commission.
The business acquired by Braskem consists of four Polypropylene plants ("PP"), of which two are located in the United States and two in Germany. The U.S. assets are located in Freeport and Seadrift in the state of Texas and have combined annual production capacity of 505 ktons, which represents an increase of 50% in Braskem's annual PP production capacity in that country, which totals 1,425 ktons. The assets in Germany are located in Wesseling and Schkopau and combined have annual production capacity of 545 ktons.
With the acquisition of these assets, Braskem strengthens its international expansion strategy and its position in the North America as the largest Polypropylene producer in the United States.
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