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Colombia’s Ecopetrol to finalize the sale of PP unit

by ChemOrbis Editorial Team -
  • 18/11/2016 (14:22)
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.
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