Brazilian petchems firms grow closer

Chynoweth, Emma
March 2007
ICIS Chemical Business;3/26/2007, Vol. 2 Issue 59, p15
Trade Publication
The article reports on the acquisition of Ipiranga by Grupo Ultra in Brazil. It will be split between Grupo Ultra, Braskem and Petrobas in a phased deal. Braskem President José Carlos Grubisich thinks the move provides potential for Braskem to grow with a new level of competitiveness and profitability for its businesses. Initially, Grupo Ultra aims to buy the shares held by the families that own most of Ipiranga, then by minority-interest shares.


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