Brazil´s Suzano Petroquimica (Sao Paulo; www.suzanopetroquimica.com.br) has acquired 100% of Polibrasil Resinas, its former 50:50 joint venture with Basell (Hoofddorp / The Netherlands; www.basell.com), for just over USD 250m net. As part of the deal, Basell is paying its former partner USD 23m to retain ownership of Polibrasil´s 25,000 t/y PP compounding business, Norcom Compostos Termoplásticos do Nordeste. One of the leading suppliers of polypropylene in Brazil, Polibrasil is believed to have accounted for more than 50% of domestic production in 2004.

As part of a restructuring scheme aimed at simplifying its shareholder structure and saving costs, Suzano Petroquimica plans to hold tender offers to absorb seven of its own subsidiaries, including PP producer Polipropileno. When the make-over is completed at the end of November, the Brazilian group expects to be the largest PP player in Latin America, with total capacity of 625,000 t/y, and second largest player in the Brazilian thermoplastics market. It already has announced plans to expand PP capacity to 875,000 t/y.