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PetroFina to acquire interest in Fina Antwerp Olefins

December 26/2011

(chemicals-technology) -- PetroFina, a 100% affiliate of Total Petrochemicals, has signed an agreement with ExxonMobil Petroleum & Chemical to transfer 35% shareholder interest in Fina Antwerp Olefins to Total.

On the completion of the transaction, Total will become the sole shareholder in Fina Antwerp Olefins.
The transaction is subject to the European competition authority approval.
Fina Antwerp Olefins, in which Total currently has a 65% interest, was set up in Antwerp in 1951, and manufactures base chemicals products, including ethylene, propylene and benzene.

Total's businesses include base petrochemicals from steam crackers and certain refinery processing plants such as olefins, C4 fractions and aromatics, as well as the commodity polymers derived from them.

The company engages in upstream and downstream operations in the petroleum industry. Its products are used in consumer and industrial markets, including packaging, construction and the automotive industry.
Tags:propylene, ethylene, automobile chemistry, neftehimiya.
Category:General News
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