BP : Divestment of Plastic Fibers, Fabrics and Fabrications Businesses

BP of the U.K. intends to divest several more plastics businesses. Among them are plastic fabrics and fibers, in which BP is reportedly the world’s leading producer of primary and secondary polypropylene carpet backings and is a leading producer of nonwoven PP fabrics for furniture and bedding. It also makes nonwoven geotextiles and woven fabrics for packaging. BP will also sell off its plastic fabrications business, which is a leading European producer of specialty packaging for foods, pharmaceuticals, and industrial products. It supplies films, nonwoven materials, and composites for hygiene and medical applications, and it is a leading blow molder of automotive and appliance components. It is also a leading European producer of agricultural films and netting. In addition, the business includes a 51% share in Arjobex, a world leader in polyethylene synthetic papers.

Included in the sale are seven wholly-owned sites around the world, including seven in the U.S., plus interests in four joint-venture sites in the the U.S., Europe, and China.

Leave a Reply

You must be logged in to post a comment.