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Sumitomo Chemical Co Ltd to acquire entire stake in Nihon Oxirane Co.

Tuesday, 26 Nov 2013 07:00pm EST 

Sumitomo Chemical Co Ltd:Says reached an agreement with Lyondell Centennial Corp. (LyondellBasell) to acquire LyondellBasell’s entire equity holding in Nihon Oxirane Co (NOC).Says NOC is a joint venture between the two companies currently owned 40 percent by LyondellBasell and 60 percent by Sumitomo Chemical.Says NOC will become a wholly owned subsidiary of Sumitomo Chemical upon completion of equity transfer in December.Says decision to discontinue NOC’s manufacture and sale of styrene monomer (SM), propylene oxide (PO) and propylene glycol (PG) by the end of May 2015.Transaction price is not disclosed. 

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19 Dec 2014