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Exhibition Status Update!

With 3 weeks until SHOWTIME, the 20th Anniversary edition welcomes an All-Star cast of new and returning exhibitors, making up the largest DOMOTEX asia/CHINAFLOOR to date. Due to high demand in all product...

Global designers to exhibit at Luxury Br…

Designers from Europe, Middle East and North America will exhibit at the upcoming Luxury Brands Carpet Show. The second edition of the curated Luxury Brands exhibition and designer carpet collection is scheduled to...

H&M to dress Swedish teams for Olymp…

Hennes and Mauritz Group (H&M) will dress the Swedish teams for the Winter Olympics and Paralympics in PyeongChang 2018. The company will create outfits for the opening and closing ceremonies. The collection will...

Saurer to show Allma TechnoCorder TC2 at…

Saurer Technologies GmbH & Co. KG Twisting Solutions, a leading provider of energy efficient solutions for tire cord, carpet, staple, glass filament, and industrial yarns, will present its Allma TechnoCorder TC2 innovative machine...

Cone Denim and Unifi launch S Gene with …

Cone Denim and Unifi have launched the latest in advanced stretch technology - S Gene with Repreve . Combining the advanced stretch technology of S Gene with the superior sustainability and performance of...

Shima Seiki to partake in Premiere Visio…

Leading computerised knitting machine developer, Shima Seiki Mfg., Ltd., is set to participate at the Premiere Vision show, a global event for fashion professionals, to be held in Paris, from February 13 to 15, 2018...

Measurably more productive and econom- i…

Even if the winding machine is only responsible for about 10-15% of the energy consumption (compressed air and electrical energy) when considering the classic ring spinning process, these criteria play an important role...

Wool to dominate at Intertextile Shangha…

Some 3,300 exhibitors from around 20 countries covering all apparel fabrics and accessories product groups are expected at the Spring Edition of the industry’s most comprehensive sourcing platform for the spring/summer season, Intertextile...

Petrobras restructures petrochemical division

Petrobras restructures petrochemical division

(Brazil)

Petrobras, in compliance with the provision in the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários, or CVM) Rule No. 358, of January 3, 2002, announces that its Board of Directors approved the restructuring of its petrochemical portfolio, and the subsequent merger of its wholly-owned subsidiaries Comperj Participações S.A., Comperj Estirênicos S.A., Comperj MEG S.A. and Comperj Poliolefinas S.A.

The referred transactions will be submitted to a vote by shareholders in a Special Shareholders Meeting to be convened in due time.

The merger of Comperj Participações S.A., Comperj Estirênicos S.A., Comperj MEG S.A. and Comperj Poliolefinas S.A by Petrobras is primarily designed to streamline the company’s corporate structure and restructure its petrochemical portfolio, since the transaction will lead to the consolidation of the petrochemical assets held by PETROBRAS and invested in Comperj Participações S.A., Comperj Estirênicos S.A., Comperj MEG S.A. and Comperj Poliolefinas S.A, resulting in lower management costs, improved streamlining and alignment of business decisions, rationalization of the company’s activities and the simplification of procedures that reallocate investment resources.

Since it involves the merger of its wholly-owned subsidiaries, Petrobras’ capital will not increase and no new shares will be issued. The shares representing the capital of Comperj Participações S.A., Comperj Estirênicos S.A., Comperj MEG S.A. and Comperj Poliolefinas S.A will be dissolved, and Petrobras will proceed with the necessary accounting records.

Furthermore, PETROBRAS announces that before the Special Shareholders Meeting that will deliberate the merger of Comperj Participações S.A., Comperj Estirênicos S.A., Comperj MEG S.A. and Comperj Poliolefinas S.A, the Companhia de Desenvolvimento de Plantas de Utilidades, a company for the development of utilities plants, will merge into Comperj Participações S.A., whose capital will increase.

Petrobras will keep its shareholders and the market as a whole properly updated on the latest developments regarding the merger.


Petrobras

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interview with Mr. Saleh Nasser Alsorayai Managing Director of Alsorayai Machine ...

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Interview Mr. Ahmad Sadeghian

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Interview with Mrs Ulrike Wechsung

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Kohan Textile Journal

Middle East Textile Journal

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