ExxonMobil sell biaxially oriented polypropylene business Jindal

ExxonMobil to sell biaxially oriented polypropylene business to Jindal

4:18 AM, 29th October 2012
ExxonMobil to sell biaxially oriented polypropylene business to Jindal

NEW DELHI, INDIA: Jindal Poly Films Ltd (JPFL) has signed an agreement with ExxonMobil Chemical to acquire its biaxially oriented polypropylene (BOPP) global film business. The pact signed between JPFL and ExxonMobil Chemical, part of the oil and gas giant Exxon Corporation, is subject to approvals. The agreement covers five BOPP production locations in the the US and Europe. The manufacturing sites are in Georgia and Oklahoma in the US and in Italy, Netherlands and Belgium in Europe.

The agreement also includes a technology centre and sales office in Rochester, New York and an office in Luxembourg. According to the company, it has entered into an agreement with ExxonMobil Chemical to purchase ExxonMobil’s BOPP Global Film business. The agreement was signed on 26 October 2012. The transaction remains subject to necessary approval from regulatory authorities.

© PTI News

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