(Indian Commodity) -- On October 26, 2012, Jindal Poly Films inked an agreement with ExxonMobil Chemical (ExxonMobil) to purchase ExxonMobil's BOPP Global Film business. To come in force, the transaction needs to be approved by regulatory authorities.
The agreement covers five BOPP production locations in the US and Europe. The manufacturing sites are in Georgia and Oklahoma in the US and in Italy respectively, the Netherlands, and Belgium in Europe. The transaction also includes a technology centre and sales office in Rochester, New York, and an office in Luxembourg.
Exxon Mobil Corporation is an American multinational oil and gas corporation. Itl is the world's largest company by revenue and one of the largest publicly traded companies by market capitalization in the world. The corporation is one of the largest producers of olefins, such as ethylene and propylene, and polyolefins, including polyethylene (PE) and polypropylene (PP). These products are the basic building blocks used to make many everyday products including packaging film, automotive parts, and polyester fiber.
Jindal Poly Films is a part of Rs 3,000 crore B C Jindal Group, a 50 year old industrial group offering a wide range of products. The company is the largest manufacturer of BOPET and BOPP films in India. It produces BOPET film, BOPP film, metalized BOPET film and BOPP film, coated BOPET and BOPP films, polyester chips (for captive consumption in the BOPET film).
MRC