Colombia’s Ecopetrol to finalize the sale of PP unit
by ChemOrbis Editorial Team - content@chemorbis.com
According to a company statement, Colombia’s Ecopetrol is planning to complete the sale of its PP production plant, Essenttia, by the end of 2016. The unit is expected to be taken over in 2017. Sources from Ecopetrol revealed that the company acquired the unit in 2007 for $690 million but did not mention the sale price or potential buyers.
Essenttia is Colombia’s only PP plant and has a capacity of 500,000 tons/year. The plant’s total PP sales in Q3 of 2016 were up 8% year on year to reach 122,455 tons, the company sources said. Meanwhile, the sales increased by 14% in Q3 on a quarterly basis.
Essenttia is Colombia’s only PP plant and has a capacity of 500,000 tons/year. The plant’s total PP sales in Q3 of 2016 were up 8% year on year to reach 122,455 tons, the company sources said. Meanwhile, the sales increased by 14% in Q3 on a quarterly basis.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Turkey shattered as PP prices shoot up to surreal levels
- Polymer markets face one of most chaotic times
- Turnaround season set to get underway in Asia
- Crude oil heals COVID-inflicted wounds; now what lies ahead?
- Global shipping turmoil deepens, adding to the upheaval in plastic resins
- China’s post-holiday polymer outlook supported by supply limitations, crude oil
- US PE exports hit record high for 2020 despite production and logistics hurdles
- African PP, PE markets firmer on continued tightness in supplies
- Lack of sales pressure supports SEA PE markets
- Will soaring prices attract PP, PE imports to Europe?
