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ExxonMobil Chemical to sell BOPP business

9:03 AM MST | November 9, 2012

Jindal Poly Films (JPFL; New Delhi), a flexible packaging firm belonging to the BC Jindal Group, has reached agreement to acquire ExxonMobil Chemical’s global biaxially oriented polypropylene (BOPP) business. Terms were not disclosed. ExxonMobil retained the services of JPMorgan earlier this year to assist it with a possible sale of the business. JPFL is buying the entire business, which has 1,500 employees and includes 5 BOPP production sites in the United States and in Europe. Jindal operates the single-largest site for production of BOPP and biaxially...

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