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Sasol to Keep Olefins Unit

11:59 AM MDT | July 26, 2007 | Chemical Week Editorial Staff

Sasol has called off plans to sell its $3-billion/year olefins and surfactants (O&S) business (CW, August 10, 2005, p. 8). “The offers received were unfortunately below fair value, and it would not have been in our shareholders’ interests to accept any of them,” says Sasol CEO Pat Davies. Sasol says it has identified restructuring and other opportunities to improve business performance at the money-losing unit. Sasol’s O&S unit is a leading producer of alcohols, alpha olefins, alumina-based inorganic specialty chemicals, olefins...

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