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Total buys stake in German polyolefin firm

01 Feb 2016 15:07 GMT
Total buys stake in German polyolefin firm

London, 1 February (Argus) — Total has acquired a 68pc stake in German polymer compounder Polyblend, in a move that aligns with its recent focus on specialty polymers.

Polyblend, based in Bad Sobernheim in western Germany, manufactures polyolefin-based plastics primarily for use in the automotive industry. The value of the transaction has not been disclosed.

Total recently began to build two polypropylene compounding lines as part of the redevelopment of its Carling petrochemicals site in France. Philippe Sauquet, president of Total Refining and Chemicals, said the two investments are complimentary and will help the company to consolidate its position in the automotive plastics market.

Plastics compounds can be used to manufacture a wide range of interior and exterior automotive components. The increasing emphasis on lightweight materials in car manufacturing is encouraging growing plastic use in the industry.

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