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)
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