BP to Divest Fibers, Fabrics & Fabrications.BP of the U.K. (parent of BP Amoco in Chicago) intends to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. several plastic-products businesses based on polyethylene polyethylene (pŏl'ēĕth`əlēn), widely used plastic. It is a polymer of ethylene, CH2=CH2, having the formula (-CH2-CH2-)n and polypropylene polypropylene (pŏl'ēprō`pəlēn), plastic noted for its light weight, being less dense than water; it is a polymer of propylene. It resists moisture, oils, and solvents. . Among them are fabrics and fibers. BP is reportedly the world's leading producer of PP carpet backings and is a leading producer of nonwoven non·wo·ven adj. Made by a process not involving weaving. Used of textiles. n. Material or a fabric made by a process not involving weaving. PP fabrics for furniture and bedding. It also makes nonwoven geotextiles and woven fabrics for packaging. BP will also sell off its European plastic fabrications business, which is a leading producer of specialty packaging; agricultural films and netting; films and nonwovens for hygiene and medical applications; and blow molded automotive and appliance components. The business also includes a 51% share in Arjobex, a world leader in polyethylene synthetic papers. The sale involves 19 sites around the world, including seven in the U.S., plus interests in four joint-venture sites in the the U.S., Europe, and China. |
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