Wednesday, December 26, 2007

Ecopetrol to buy Colombia's largest PP maker Propilco

As part of its expansion plans, Colombia's state- controlled oil company Ecopetrol SA has agreed to buy Colombia's largest polypropylene maker Propilco for US$690 mln. This acquisition of Propilco complements oil-refining operations. Propilco, with annual sales of about US$600 million, currently buys 30% of its fuel from Ecopetrol.

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