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Chinese Acrylates Producer Satellite to Acquire Propylene Maker Julong Petrochemical

11:12 PM MST | February 8, 2012 | Natasha Alperowicz

Zhejiang Satellite Petrochemical (Jiaxing, China), a major producer of acrylic acid and acrylates, plans to acquire Zhejiang Julong Petrochemical (Pinhu City, China) for Rmb137 million ($21.7 million), according to Satellite Petrochemical’s filing. Zhejiang, which produces acrylic and methacrylic acids; acrylic esters, including butyl and methyl acrylate, 2-ethyl hexyl acrylate; and superabsorbents, will, through this acquisition, back integrate to propylene production. Zhejiang Julong, a subsidiary of Zhejiang Changjiang Energy Development Co., is building...

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