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Business
YPF Buys Into Polypropylene
by Alexander H. Tullo
August 24, 2015
| A version of this story appeared in
Volume 93, Issue 33
A pair of transactions involving Argentina’s state oil company, YPF, will unify that country’s two polypropylene plants under common ownership. LyondellBasell is selling its Petroken subsidiary to YPF and Grupo Inversor Petroquímica (GIP) in a $145 million transaction. The two companies will share ownership of the 180,000-metric-ton-per-year polypropylene plant in Ensenada, Argentina, adjacent to a YPF refinery. Separately, YPF is buying a 46% interest in Petrocuyo from GIP. Petrocuyo runs a 130,000-metric-ton-per-year polypropylene plant in Luján de Cuyo, also tied to a YPF complex.
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