Elekeiroz, a chemical business controlled by the holding company Itaúsa, has announced its acquisition of the assets of Air Products Brazil’s oxo gas plant in Brazil, located at the Camaçari Industrial Complex, Bahia. The substance is used to produce PVC.
In the course of two years, the Company will invest around R$70 million, contemplating the acquisition and adaptation of the plant and the interconnection between it and Elekeiroz’s existing facilities at Camaçari.
Elekeiroz, which already produced oxo gas at its Camaçari site and was also supplied by Air Products, now internalizes this input source. According to the Company, the transaction ensures the availability of raw material required for increasing its production and meeting the growing demand in the local market, particularly for butanol, an important material for the acrylic complex that is currently being set up at that industrial site.
The transaction has been submitted to and approved by the CADE (Brazilian acronym for Antitrust Administrative Council).