08 April 2009 22:18 [Source: ICIS news]
SAO PAULO (ICIS news)--Hexion Specialty Chemicals will increase by threefold its investment in a new resin plant in southern ?xml:namespace>
The increase will bring Hexion's total investment in the plant to Brazilian reais (R) 110m ($50m) from R32.5m, according to the company.
The decision was based on a positive market scenario for the Brazilian state and proximity to buyers, which should reduce freight and transportation costs, company sources said.
As a result of the plant,
Hexion currently operates three other units in
($1 = R 2.22)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|