Braskem concludes acquisition of Sunoco Chemicals
Braskem announced that it has concluded the acquisition of Sunoco Chemicals’ polypropylene (PP) division, after approval of the transaction, announced on February 1 by the Federal Trade Commission and the Antitrust Division of the US Department of Justice. Braskem invested US$ 350 million in this operation as part of its strategy to establish an industrial base in the United States that will function as an important platform for the future expansion of its international business.
Braskem’s American operation now has the capacity to produce 950 thousand tons of PP per year, representing 13% of installed PP production capacity in that country. Acquisition of Sunoco Chemicals and the resulting synergies provide clients a broader portfolio of products and services.
With the acquisition of these assets, Braskem reinforces its global expansion strategy and its position as one of the global leaders in PP, having become the third largest producer in the world of PP with a production capacity of 2.9 million tons per year.
"We will value the experience of Sunoco Chemicals’ key executives, who have in-depth knowledge of American market reality. The team shall be complemented by the arrival of new leaders capable of adding knowledge and experience regarding Braskem’s success strategy and business culture," says Bernardo Gradin, president of Braskem.
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