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Polypropylene

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BUSINESS
December 3, 2011 | By Linda Loyd, Inquirer Staff Writer
The Brazilian company that bought Sunoco Inc.'s polypropylene factory in Marcus Hook, and relies on Sunoco's refinery next door to supply raw materials, said Friday it will pursue "all legal actions and remedies available" to keep its plant running. Braskem S.A., a large plastics resin producer based in Sao Paulo, bought three Sunoco polypropylene plants in 2010 with the goal of becoming one of the top five petrochemical companies in the world. With Sunoco's announcement Thursday that it would shut its Marcus Hook refinery immediately, ahead of a July 1 deadline, Braskem said it was consulting with legal counsel and evaluating options to keep its business running.
BUSINESS
July 6, 2012 | Andy Maykuth
Braskem America, the subsidiary of a Brazilian industrial firm that bought Sunoco Chemical two years ago, said it had it acquired the propylene splitter assets at Sunoco's closed refinery in Marcus Hook. The unit produces material used by Braskem in its neighboring plant to manufacture polypropylene plastic. "This transaction represents an important step in preserving the viability of Braskem's Marcus Hook polypropylene facility for the foreseeable future and solidifying Braskem's continued commitment to the North American petrochemical market," the company, which is based in Philadelphia, said in a statement.
BUSINESS
March 30, 1987 | By Ron Wolf, Inquirer Staff Writer
For nearly two decades, Hercules Inc. has prospered by developing new uses for polypropylene, a light, inexpensive plastic. Hercules discovered the material in 1957, but use of the substance did not blossom until the early 1970s. Initially, polypropylene was considered inferior to other plastics for many applications. Demand increased, however, after researchers found ways to improve its properties. Since then, polypropylene has been used widely for food packaging, carpet fiber and disposable diapers.
BUSINESS
December 25, 1986 | By Ron Wolf, Inquirer Staff Writer
Hercules Inc. and Montedison S.P.A. plan to sell 20 percent of their Himont joint venture to the public, the two partners said yesterday. Himont Inc., based in Wilmington, is the world's largest maker of polypropylene, a widely used thermoplastic resin. The company had sales last year of $915 million and profits of $53 million. Hercules said its retiring chairman and chief executive officer, Alexander F. Giacco, would become full-time chairman and chief executive of Himont.
NEWS
March 2, 1999 | By Tanyanika Samuels, INQUIRER SUBURBAN STAFF
The Huntsman Polypropylene Corp. announced yesterday that it will close its manufacturing plant here on April 30. The facility employs 127 workers. The plant makes polypropylene, a plastic commonly used in a variety of products, including outdoor furniture and food storage ware. Huntsman sells the plastic in pellet form, which its customers use in manufacturing. Officials at the plant, on Mantua Grove Road, declined to comment on the announcement, but officials at company headquarters in Salt Lake City said changes in the industry led in part to the decision.
BUSINESS
August 28, 1988 | By Marian Uhlman, Inquirer Staff Writer
Hercules Inc. is being picky about how to spend a large sum of money from the sale of its interest in Himont Inc. nearly a year ago. The company, which received about $1 billion after taxes from the sale, has planned to use a substantial portion for a major acquisition. But so far, Hercules has not found anything worth buying. And David S. Hollingsworth, chairman and chief executive officer for the Wilmington chemical and aerospace company, seems determined to hold course until exactly the right deal comes along.
BUSINESS
October 7, 1989 | By Glenn Burkins and Marian Uhlman, Inquirer Staff Writers
Himont Inc., a Wilmington chemical company, yesterday rejected a $600 million offer from Montedison S.p.A., an Italian firm, for the 19 percent of Himont that it does not already own. Under the offer, Himont shareholders would have been paid $49 a share - $47 a share in cash and the rest in warrants for Montedison stock valued by the company at $2 a share. In a tightly worded statement, Himont said the offer was "not fair" to its shareholders. It was rejected by a special committee appointed by Himont's board of directors to investigate the offer.
BUSINESS
September 12, 1987 | By Ron Wolf, Inquirer Staff Writer
Hercules Inc. will sell its entire 38.5 percent interest in Himont Inc. to Montedison S.p.A., an Italian chemical company, for $1.49 billion. The transaction will result in pretax profit of about $600 million for Hercules, a chemical and aerospace company based in Wilmington. Montedison, based in Milan, will be paying Hercules $59.50 a share for its 25 million Himont shares. Hercules said yesterday that it would use the proceeds to reinvest in its core businesses, make acquisitions or buy back its own shares on the open market.
BUSINESS
October 28, 2011 | By Joseph N. DiStefano, Inquirer Staff Writer
Brazil, the biggest nation in Latin America, is advancing as a world economic power, and is investing in the United States amid the slump here. Burger King and Budweiser , to name two iconic American brands, are now owned and operated by a Brazilian-led international group. Here are three Brazilian companies that are using the Philadelphia area as a base for growth in the United States and beyond.   Plastics Chemical giant Braskem S.A. spent nearly $700 million in the last 12 months buying polypropylene plants (they make basic material for cups, auto parts, tape, diapers)
BUSINESS
February 2, 2010 | By Andrew Maykuth INQUIRER STAFF WRITER
In its latest move to shed noncore assets, Sunoco Inc. said yesterday that it was selling its chemical subsidiary to a Brazilian company for $350 million. The Philadelphia refiner says that Braskem S.A., the world's eighth-largest petrochemical maker, will buy Sunoco's three polypropylene plants, including a polymer factory in Marcus Hook. Sunoco's other chemical operations, including its Frankford phenol plant, were not included in the deal and will remain part of the Sunoco family.
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BUSINESS
July 6, 2012 | Andy Maykuth
Braskem America, the subsidiary of a Brazilian industrial firm that bought Sunoco Chemical two years ago, said it had it acquired the propylene splitter assets at Sunoco's closed refinery in Marcus Hook. The unit produces material used by Braskem in its neighboring plant to manufacture polypropylene plastic. "This transaction represents an important step in preserving the viability of Braskem's Marcus Hook polypropylene facility for the foreseeable future and solidifying Braskem's continued commitment to the North American petrochemical market," the company, which is based in Philadelphia, said in a statement.
BUSINESS
December 3, 2011 | By Linda Loyd, Inquirer Staff Writer
The Brazilian company that bought Sunoco Inc.'s polypropylene factory in Marcus Hook, and relies on Sunoco's refinery next door to supply raw materials, said Friday it will pursue "all legal actions and remedies available" to keep its plant running. Braskem S.A., a large plastics resin producer based in Sao Paulo, bought three Sunoco polypropylene plants in 2010 with the goal of becoming one of the top five petrochemical companies in the world. With Sunoco's announcement Thursday that it would shut its Marcus Hook refinery immediately, ahead of a July 1 deadline, Braskem said it was consulting with legal counsel and evaluating options to keep its business running.
BUSINESS
October 28, 2011 | By Joseph N. DiStefano, Inquirer Staff Writer
Brazil, the biggest nation in Latin America, is advancing as a world economic power, and is investing in the United States amid the slump here. Burger King and Budweiser , to name two iconic American brands, are now owned and operated by a Brazilian-led international group. Here are three Brazilian companies that are using the Philadelphia area as a base for growth in the United States and beyond.   Plastics Chemical giant Braskem S.A. spent nearly $700 million in the last 12 months buying polypropylene plants (they make basic material for cups, auto parts, tape, diapers)
NEWS
April 22, 2011 | By Sandy Bauers, Inquirer Staff Writer
At Tony Fisher's Big Green Earth Store on South Street, most customers - he guesses 95 percent - bring their own bags. And still, his committed greenies buy more. How many? He shrugs. In a year, "thousands. " Along with the reusable water bottle and the swirly compact fluorescent lightbulb, the reusable bag has become an emblem of the environmental movement. As such, it will no doubt be a major giveaway at Earth Day events across the nation. Reusable bags were meant to supplant flimsy plastic grocery bags - the one-use, petroleum-based bags that critics say last for centuries and all too often wind up as litter or in the guts of sea life.
BUSINESS
February 2, 2010 | By Andrew Maykuth INQUIRER STAFF WRITER
In its latest move to shed noncore assets, Sunoco Inc. said yesterday that it was selling its chemical subsidiary to a Brazilian company for $350 million. The Philadelphia refiner says that Braskem S.A., the world's eighth-largest petrochemical maker, will buy Sunoco's three polypropylene plants, including a polymer factory in Marcus Hook. Sunoco's other chemical operations, including its Frankford phenol plant, were not included in the deal and will remain part of the Sunoco family.
NEWS
March 2, 1999 | By Tanyanika Samuels, INQUIRER SUBURBAN STAFF
The Huntsman Polypropylene Corp. announced yesterday that it will close its manufacturing plant here on April 30. The facility employs 127 workers. The plant makes polypropylene, a plastic commonly used in a variety of products, including outdoor furniture and food storage ware. Huntsman sells the plastic in pellet form, which its customers use in manufacturing. Officials at the plant, on Mantua Grove Road, declined to comment on the announcement, but officials at company headquarters in Salt Lake City said changes in the industry led in part to the decision.
NEWS
July 2, 1995 | By Matt White, INQUIRER CORRESPONDENT
Huntsman Polypropylene's plant manager, Thomas Bates, has a trick that his associates say he likes to pull during conversations. Say you're taking notes as he goes through the details of his plant's $16 million improvement program that will allow the plastics producer and 220 jobs to remain in West Deptford. Say you're taking those notes with a Bic ballpoint pen. With a broad smile and a little tug at your pen, he'll say, "We made that. " He means the plastic shell of the pen, and, indeed, Bic pens are among a myriad of products that begin life as the BB-size pellets of white polypropylene the plant produces.
BUSINESS
November 19, 1991 | Daily News Wire Services
A Georgia Tech researcher envisions the day when he can drive to an old building, pull out an asbestos blaster and turn the carcinogen into driveway gravel. Lou Circeo, director of Georgia Tech's Construction Research Center, is refining an asbestos-melting process that he says would reduce the amount of asbestos that is dumped into landfills. The method uses a new technology - the plasma arc torch - that produces an ionized gas that heats to 7,000 degrees Celsius. It melts asbestos into harmless chunks of gray, glasslike rock that Circeo says can be used as gravel or concrete aggregate or molded into products such as bricks.
BUSINESS
October 7, 1989 | By Glenn Burkins and Marian Uhlman, Inquirer Staff Writers
Himont Inc., a Wilmington chemical company, yesterday rejected a $600 million offer from Montedison S.p.A., an Italian firm, for the 19 percent of Himont that it does not already own. Under the offer, Himont shareholders would have been paid $49 a share - $47 a share in cash and the rest in warrants for Montedison stock valued by the company at $2 a share. In a tightly worded statement, Himont said the offer was "not fair" to its shareholders. It was rejected by a special committee appointed by Himont's board of directors to investigate the offer.
BUSINESS
May 11, 1989 | By Sheila Simmons, Daily News Staff Writer
Himont Inc., the Wilmington-based international plastics maker, is considering building a $400 million research and development center in Concord Township, Delaware County. The site is one of several being considered. The location of the others could not be learned. William Tancredi, Delaware County commerce director, said yesterday that he had been talking with the company for several months about bringing its research operations there. Tancredi said the state and county are wooing the company with a package of economic incentives, but neither he nor the state Department of Commerce would elaborate.
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