Suzano Gobbles Up Polibrasil and Becomes LatAm Leader in Polypropylene

Brazilian company Suzano PetroquÀ­mica S.A. announced that it has concluded the acquisition of the entire control of Polibrasil Resinas S.A. The financial settlement and the property transfer, amounting to US$ 276.8 million, were finalized September 1st.

The transaction included the simultaneous sale to Basell International Holdings BV of Norcom Compostos Termoplásticos do Nordeste S.A., to which the whole business of polypropylene compounds, previously owned by Polibrasil, was transferred for US$ 23.0 million, resulting in a net disbursement of US$ 253.8 million for the transaction.


Additionally, Suzano Petroquí­mica will implement a restructuring to simplify its corporate structure and turn itself into an operational company, accomplishing its commitment to the market.


As a result of this transaction, Suzano Petroquí­mica becomes the Latin American leader in the production of polypropylene, with total production capacity of 625 thousand tons per year, reaching 875 thousand tons per year after the implementation of the approved expansion project, and the second largest Brazilian producer of thermoplastic resins, with consolidated net revenues of R$ 1.719 millions for the period from July 2004 to June 2005.


Suzano Petroquí­mica – www.suzanopetroquimica.com.br

Tags:

You May Also Like

Sculptor Rosas Recreates Ancient World in Brazil

Artisan Júlio César Nunes Rosas, 63 years of age, was born in a region ...

Brazil’s Petrobras US$ 112 Billion Investment Includes Wind Energy and Biofuel

Petrobras, the Brazilian government-controlled oil company, plans to invest US$ 18.2 billion between 2008 ...

Shotgun wedding, part of Festa Junina

New York Celebrates Brazil’s Festa Junina with Dance and Typical Food

The month of June marks the beginning of the fall harvest in Brazil, and ...

Cardoso back in Stanford

Former visiting professor at Stanford University, Fernando Henrique Cardoso, was back at that Northern ...

Brazil’s Pernambuco State Gets a 77% Jump in Exports

The government of the northeastern Brazilian state of Pernambuco is celebrating the record performance ...

Brazilian Booming Stock Market Gives 15% Return in January

For the second day in a row, Brazilian stocks closed this Tuesday, January 31, ...

Brazil Declares 7 Days of Mourning for Pope

The Brazilian people, “the largest Catholic country in the world”, is profoundly saddened by ...

Thanks to a 50% Hike in Beef Prices Brazil Exports 22% Less and Earns 18% More

From January to August, Brazil's beef exports fell 22% year-on-year to 711,716 tons swt ...

Waiting for Gudrun

He finally felt he was living among humans. Gone was the chaotic and miserable ...

Spread of Soybean Culture Helps Denying Brazilian Indians Their Land

In the state of Mato Grosso, located in the west region of Brazil, there ...