Carmel Olefins Acquires PP Capacity in the Netherlands

Carmel Olefins (Haifa, Israel), a 50-50 joint venture of Israel Petrochemical Enterprises and Oil Refineries (ORL; Haifa), and Israel Petrochemical Enterprises (IPE), says it has agreed to acquire a 49% in Domo’s (Gent-Zwijnaarde, Belgium) 180,000 m.t./year polypropylene (PP) plant at Rozenburg, the Netherlands. Terms were not disclosed, but ORL says the PP plant generates annual sales of about €176 million. ORL says the acquisition is in line with its strategy to expand its petrochemicals business. The deal is subject to regulatory approval. Domo...

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