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(Braskem) -- Braskem, the leading
resin producer in the Americas, announced the acquisition of the Polypropylene
Business from The Dow Chemical Company for USD 323 million. This transaction
represents an important step in Braskem’s growth strategy in the Americas and
consolidates its polypropylene leadership in the U.S.
The assets involved in the deal include two manufacturing plants in the
U.S. and two in Germany, with a total annual polypropylene production capacity
of 2.3 billion pounds. The plants in the U.S. are located at Freeport, TX and
Seadrift, TX, and will increase Braskem’s polypropylene capacity by 50% in the
region to an annual production capacity of 3.1 billion pounds. The two plants
located in Germany, at the petrochemical complexes of Wesseling and Schkopau,
have annual capacity of 1.2 billion pounds of polypropylene.
The transaction is expected to close by the third quarter 2011 pending
regulatory approvals.
mrcplast.com
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