Repsol YPF has acquired from
ExxonMobil its agricultural compound business for winter covering and small
tunnels. The purchase includes a Technology license, the compounding and
application know-how and the goodwill related to the business.
This move
reinforces Repsol YPF's Chemicals Division commitment to the agricultural
compounds business, already highlighted by the recent start-up of a new 30,000
ton per year compounding line, and the ongoing 35,000 ton per year EVA
copolymers expansion in Puertollano due on stream in February 2001.
It
will also strengthen Repsol YPF's already extensive performance offering,
especially in the areas of long lasting EVA based compounds and antidripping
technology, where ExxonMobil has been a leading supplier. ExxonMobil Chemical
will focus on supplying EVA base polymers for all applications.
Repsol
YPF expects to significantly improve its cost efficiency in agricultural
compounds thanks to better economies of scale due to this acquisition, and to
the versatility of the new compounding line. This coupled with the permanent
effort in related R&D activities and the continuous development of new
performances in partnership with key additive suppliers, will reinforce the
already recognised leadership of Repsol YPF in the agricultural compounds
business.
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