Brazil Ultrapar considers divesting Oxiteno
Al Greenwood
14-Dec-2020
HOUSTON (ICIS)–The Brazilian conglomerate Ultrapar is considering the possible divestment of surfactants producer Oxiteno, it said on Monday.
The divestment is among the strategic alternatives it is considering for the company, Ultrapar said. These would fall in line with Ultrapar’s growth strategy and allow Oxiteno to continue expanding.
Oxiteno is ramping up production at its new surfactants plant in Pasadena, Texas, in the US.
The company is the sole producer of ethylene oxide (EO) in Brazil. It also makes ethylene glycol.
In addition to Oxiteno, Ultrapar also owns the fuel distributor Ipiranga, which has placed a bid to acquire the Presidente Getulio Vargas refinery (REPAR) in Parana state in southern Brazil.
If Ipiranga’s bid is successful, it would be the company’s first refinery.
Ultrapar also owns the fuel distributor Ultragaz, liquid bulk storage firm Ultracargo and drugstore chain Extrafarma.
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