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Elekeiroz to Invest $400 Million in Acrylic Plant, Valor Says

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Dec. 28 (Bloomberg) -- Elekeiroz SA plans to invest as much as $400 million to build an acrylic acid plant in Brazil, Valor Economico reported, citing Chief Executive Officer Reinaldo Rubbi.

The new plant would be built in Camacari, Brazil, the Sao Paulo-based newspaper said. Acrylic acid is used as an ingredient to produce paint and diapers, Valor said.

Elekeiroz is controlled by the Brazilian holding company Itausa - Investimentos Itau SA.

To contact the reporter on this story: Lucia Kassai in Sao Paulo at lkassai@bloomberg.net.

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net.

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