Petron Corp. has entered into an agreement with Vantage Stride (Mauritius) Ltd. for the purchase of 40% of Petrochemical Asia Ltd. Petrochemical Asia indirectly owns a polypropylene plant in Limay, Bataan, Philippines. Petron President Eric O. Recto declined to disclose the cost of the acquisition, saying the deal won’t close until after 30 days. “With this partnership, Petron will be able to share in the incremental value of converting propylene into polypropylene,” Petron said. Polypropylene is used to make food packaging, textiles, plastic parts and reusable containers, and others. (March 10, 2010)