Brazilian petrochemical expands to Uruguay and buys local plant
Brazilian petrochemical conglomerate Ultrapar Paticipacoes SA announced it had purchased Uruguay’s American Chemical for 79 million dollars. Ultrapar is also linked to businesses in fuels and liquids storage, according to a Brazilian securities filing on Monday.
The Uruguayan company plant in Montevideo had the capacity of producing 81.000 tons of cosmetics and detergents plus other products used in the skin and hides industry.
In a joint statement it was announced that the operation was done through Ultrapar chemical affiliate Oxiteno which works in the same niche as American Chemical and exports to countries in the region.
Ultrapar said that with the new merger it can reinforce its regional presence with tense-active sulphates and other by products as well as achieve operational and administrative benefits.
The Brazilian company also owns Ultragaz the main liquid gas distributor in Brazil and the Ipiranga network of gasoline stations plus the logistics company Ultracargo.
Ultrapar has an annual turnover of 26 billion dollars, net profits of 456 million dollars in 2011 and employs 9.600. The group also has interests in Mexico, Argentina, US, Venezuela and now Uruguay.