HOUSTON (ICIS)–The board of Petrobras approved the sale of the company’s polyester complex to Mexican firm Alpek for $385m, the Brazilian state energy producer said on Wednesday.Brazil Petrobras Alpek
The complex is made up of two companies: Companhia Petroquimica de Pernambuco – or Petroquimica Suape (PQS) – and Companhia Integrada Textil de Pernambuco (Citepe).
The complex is in Ipojuca, Pernambuco state, in northeastern Brazil, and it makes purified terephthalic acid (PTA), polyethylene terephthalate (PET) and polyester filament. The PET capacity is 425,000 tonnes/year.Brazil Petrobras Alpek
Alpek will pay the $385m in Brazlian reais on the closing date, which was not disclosed.