Total SA to acquire 68% stake in Germany’s Polyblend GmbH

01-Dec-14

French oil and gas giant Total SA plans to buy a 68% stake in Germany’s Polyblend GmbH, a subsidiary of Polymer-Chemie GmbH, a Total spokesperson told European Plastics News. It will notably facilitate the transfer of know-how, which was already planned through a technical assistance contract for the start-up and operation of the two new lines. Total does not currently produce the type of reinforced polyolefin compounds made by Polyblend, but two production lines with a total capacity of 30,000 metric tpa are being built on Total’s Carling, France, site with the aim to start in Spring 2016. This acquisition strengthens Total on the market and permits Total to access the recognized expertise of Polyblend in compounds; and the ‘compounds fiberglass’ technology, a high-growth segment in which Total is not yet present. Total announced in 2013 that it intended to invest 160 million euros ($200.9 million) before 2016 to adapt its petrochemical platform in Carling, in the Lorraine region of eastern France. Patrick Pouyanné, president of Refining & Chemicals Total said: “By making Carling the European center for the hydrocarbon resin business and a leading European polymers plant as part of an extensive investment plan, we are confirming our willingness to maintain sustainable industrial activities in France while investing in promising markets.”