Antimonopoly regulator approves sale of polyester business Petrobras for Alpek – The Brazilian antitrust regulator (CADE) has recommended approving the acquisition of the polyester business of Petrobras by Mexican company Alpek – Antimonopoly regulator polyester business Petrobras Alpek - Arhive

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Antimonopoly regulator approves sale of polyester business Petrobras for Alpek

Antimonopoly regulator polyester business Petrobras Alpek MOSCOW – The Brazilian antitrust regulator (CADE) has recommended approving the acquisition of the polyester business of Petrobras by Mexican company Alpek, ICIS reports with reference to the statement of the Brazilian company.

Petrobras said that CADE still has to make a final decision on the future deal. The deal is estimated at USD385 million.

Petrobras polyester business is called Petroquimica Suape, and includes Petroquimica de Pernambuco (Petroquimica Suape or PQS) and Companhia Integrada Textil de Pernambuco (Citepe). The complex is located in the city of Ipojuca (Ipojuca, Pernambuco, Brazil). It includes the production of purified terephthalic acid (TPA), PET and polyester fibers. The capacity of PET production is 425 thousand tons per year.

Earlier it was reported that in February 2017, the Federal Court of Brazil suspended the sale of a complex for the production of PET and polyester Petrobras Mexican Alpek. Petrobras began negotiations with Alpek about the sale of its petrochemical units PQS and Citepe in July 2016. Both of the subsidiaries of Petrobras sold by the end of 2015 were unprofitable.

According to the Price Review of ICIS-MRC , the export of Russian PET in November amounted to 5.06 thousand tons against 3.83 tons a month earlier. More than half of exports in the volume of 3.11 thousand tons accounted for the supply of Alco-Nafta products in the US. As a result of eleven months of this year, PET exports from Russia increased by 22% to 44.0 thousand tons against 36.1 thousand tons in the same period last year.

Petrobras is a Brazilian state oil company headquartered in Rio de Janeiro.

The company specializes in operations in the production, processing and transportation of oil and natural gas in Brazil and other countries.

Alpek is the largest in Mexico and the second largest in Latin America petrochemical company. Its activities are divided into two main segments: “polyesters” (terephthalic acid, polyethylene terephthalate and polyester fibers) and “plastics and chemicals” (polypropylene, foamed polystyrenes, caprolactam, polyurethanes and other special and industrial chemicals). Alpek is the world’s leading manufacturer of purified terephthalic acid and PET; it owns the largest on the continent enterprise for the production of foamed polystyrenes, as well as one of the largest polypropylene productions in North America. Alpek currently has 19 factories in Mexico, the USA and Argentina. Alpek is part of the Mexican conglomerate Grupo Alfa. Alpek also owns DAK Americas.

mrcplast.ru

Author:                Anna Larionova

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