09 April 2012 23:45 [Source: ICIS news]
HOUSTON (ICIS)--Brazil-based Oxiteno has acquired a specialty-chemicals plant in Pasadena, Texas, the company said on Monday.
The seller was Pasadena Property, Oxiteno said.
Oxiteno bought the plant for $15m (€11m), the company said. It plans to spend $15m more to retrofit the plant so it can make Oxiteno's line of specialty surfactants.
The plant has a capacity of 32,000 tons/year, and operations should start in 2013, Oxiteno said.
Pasadena is adjacent to Houston, the petrochemical hub of the US.
Oxiteno said it would use the infrastructure at the Pasadena site as a platform for more expansion in the US, which is the largest surfactants market in the world, the company said.
Oxiteno is a subsidiary of Ultrapar.
($1 = €0.76)
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|