IHS Chemical Week

Sumitomo Chemical to acquire Oxirane stake from LyondellBasell

1:12 PM MST | November 27, 2013

Sumitomo Chemical has reached an agreement to acquire LyondellBasell’s stake in Nihon Oxirane (Tokyo). Currently, Sumitomo Chemical holds 60% and LyondellBasell holds 40%. Nihon Oxirane, established in 1972, produces and sells styrene monomer, propylene oxide (PO) and propylene glycol. Sumitomo says it has also decided to discontinue the operation of Nihon Oxirane by the end of May 2015. Nihon Oxirane currently produces 425,000 m.t./year of styrene monomer, 181,000 m.t./year of PO, and 100,000 m.t./year of propylene glycol, at its production complex at Chiba...

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