October 23, 2024 - Polo Films, a Brazilian manufacturer of BOPP films, announced on October, 2, 2024 that it signed an agreement with Innova, a Brazilian petrochemical and plastics processing company. The agreement stipulates that Innova will buy Polo Films. The financial terms of the contract were not divulged.

The transaction aims to expand Innova's presence in the BOPP segment, produced by the Company in Manaus (AM) since 2012. After the completion of the acquisition of Polo Films, Innova will also be present in Rio Grande do Sul.

Innova's investment follows a strategy previously adopted in the petrochemical business, by having industrial plants in Manaus (AM) and Triunfo (RS), which are located, respectively, in the north and south of Brazil. This model will allow greater flexibility in serving national and global BOPP customers, who will have production units at their disposal at both ends of the country. The objective is to increase the level of service in production and delivery to customers, ensuring greater availability of the product, even in face of the climate difficulties experienced in recent years.

The transaction is subject to approval by the Brazilian Administrative Council for Economic Defense (CADE), as well as other conditions negotiated between the parties.

With 36 years of history, Innova stands out in the petrochemical and plastics processing segments. The company manufactures a wide range of petrochemical products, including ethylbenzene (EB), styrene monomer (SM), toluene, general purpose polystyrene (GPPS) as well as high impact (HIPS), expandable (EPS), and ECO-PS polystyrenes. In the plastics processing sector, Innova manufactures biaxially oriented polypropylene (BOPP) films, polystyrene (PS) and polypropylene (PP) reels, and closure caps for PET bottles, serving the mineral water, juice and soft drink industries.

With 44 years in the Brazilian market, Polo Films is a manufacturer of biaxially oriented polypropylene (BOPP) films. With annual sales of approximately 60 thousand tons in the markets of Brazil, Latin America and the United States, the company has a manufacturing unit in Montenegro (RS) and an office in São Paulo (SP).

Source: Polo Films / Innova