Ultrapar acquires chemical plant in Uruguay, Brazil fuel terminal

29 May 2012 19:48  [Source: ICIS news]

MEDELLIN, Colombia--Brazil’s Ultrapar has acquired Uruguayan specialty chemical firm American Chemical and a fuel terminal in Brazil, the company said on Tuesday.

Ultrapar said it acquired the Uruguay company for $79m (€63.2m).

It also acquired a fuel terminal from Noble Group for Brazilian reais 160m ($82m), the company said.

American Chemical owns a chemical plant in the Uruguayan capital of Montevideo, with a production capacity of 81,000 tonnes of chemicals used for the home, personal care and leather industries, Ultrapar said.

The acquisition, through subsidiary Oxiteno, will strengthen the company’s position in the region as a producer of surfactants and specialty chemicals, said the company.

Oxiteno currently supplies South American "southern cone" countries from its facilities in Brazil, the company added.

Ultrapar also confirmed the acquisition of the "Temmar" fuel terminal from subsidiaries of Noble Group, the company said.

The terminal, acquired through subsidiary Ultracargo, is at the Brazilian port of Itaqui, in northeast Brazil, and has a capacity of 55,000 cubic metres, Ultrapar said.

The terminal is used mainly for conventional fuels and biofuels, and will add 8% to the company’s current capacity for liquid bulk storage, the company added.

Oxiteno confirmed last week the acquisition of specialty chemical assets in Sao Paulo from US-based Cytec Industries.

In addition to Oxiteno and Ultracargo, Ultrapar also operates in the fuel distribution business through subsidiary companies Ipiranga and Ultragaz.

($1 = €0.80) ($1 = R0.51)

By: Simon West

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