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Petropar posts 1992 results.

Petropar S/A, Rio Grande do Sul, Brazil, reported net profits of $33.5 million in 1992 on the strength of the sale of PPH/Companhia Industrial de Polipropileno to Odebrecht Quimica S/A for $107 million in the second half of 1992 and its Fitesa subsidiary, which attained $2.2 million in profit. Petropar also owns Atlas Corp, newly started up in North Carolina; however, Atlas reported a $1.2 million loss due to start up costs.

To further strengthen its position in plastics transformation, Petropar is looking to purchase the remaining 49% of Fitesa that is currently held by the North American offices of Himont, part of the Italian Feruzzi group.
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Publication:Nonwovens Industry
Date:Jul 1, 1993
Words:113
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