Petrobras to sell PET, PTA plants to Alpek
The subsidiaries to be sold have a combined production capacity of 700,000 tons/year of PTA and 450,000 tons/year of PET.
Alpek, which is based in Mexico and has a production capacity of 5.6 million tons/year, is expected to obtain a stronger position in Brazil with this acquisition, along with the polystyrene plant it operates in the country.
The talks between Petrobras and Alpek about the sales of these petrochemical units had started last August.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Global PET markets surge on heels of costs, tightness
- SE Asia PP uptrend fueled by China’s strong return
- US PE offers back in the game in global markets
- Egypt’s PP, PE markets rise to 5-month high in October
- Oct PE pricing under discussion amid rising costs, tepid demand in Europe
- Crude at multi-year highs contributes to a perfect storm in polymers
- An enduring challenge: Unprecedented times in PVC markets
- Saudi major opts for firm Oct pricing in both local and export polyolefin markets
- Coal prices hit record highs in China with knock-on effects for PP, PVC markets
- European PP players foresee stability for Oct despite higher propylene