Total announced Thursday that the company purchased a 68 percent interest in Germany's Polyblend, which manufactures polymer plastics intended primarily for the automotive industry.
The transaction was realized on Feb. 25 and aligned with the Group's strategy of developing higher-value-added polymers and differentiating itself in markets away from commodity plastics, the press release said.
According to Total's press release, the company recently began building two polypropylene compounding lines at the Carling Platform in the Lorraine region of Eastern France as part of its project to secure the French site's future. The lines are scheduled to start up in mid-2016.
Polyblend produces compounds are blends of polymers (polyethylene and polypropylene) and other ingredients such as mineral fillers, glass fibers, elastomers and additives, formulated to customer specifications.
Polypropylene compounds are used extensively in a wide range of automotive applications, including engine parts, air conditioning, air filters and interior components for example door panels, consoles, dashboard trims and in exterior components including bumpers and other auto body parts.
According to Philippe Sauquet, Total's president of refining and chemicals, the company wishes to consolidate its position in the fast-growing market for polymers for automotive solutions after its acquisition.
'Accentuated efforts to lighten vehicles to improve their efficiency means that this type of product, whose technology is constantly evolving, enjoys a strong growth outlook. The Polyblend acquisition complements the current investment in new production lines at the Carling site. We will be able to tap expertise and synergies at the main facility in Carling and the Polyblend site in Bad Sobernheim, just 150 kilometers away, to productively expand in this field,' Sauquet said.
By Muhsin Baris Tiryakioglu
Anadolu Agency
muhsin.tiryakioglu@aa.com.tr