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S Korea’s Lotte not selected for acquisition of Jurong Aromatics

by ChemOrbis Editorial Team -
  • 23/03/2017 (11:13)
Market sources reported that South Korea’s Lotte Chemical was not chosen for the acquisition of Singapore’s Jurong Aromatics Corp.

The company had announced its intention to acquire JAC on January 19 as part of its plan to boost growth in the sector.

South Korea’s Hanwha Chemical and ExxonMobil were reportedly among the bidders.

The JAC’s aromatics section has a production capacity of 800,000 tons/year of PX, 450,000 tons/year of benzene and 200,000 tons/year of orthoxylene. It can also produce 2.5 million tons/year of petroleum products including jet fuel and naphtha.
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