Sign up for the Powder & Bulk Solids Weekly newsletter.
Sasol Mulls Sale of Stake in Gulf Coast Chemical Plant
April 21, 2020
3 Min Read
As oil prices hit historic lows, South Africa-based integrated chemicals and energy firm Sasol is examining options to shed its stake in a $13 billion Lake Charles chemical facility in Louisiana, sources told Bloomberg this week.
The American news organization reported that the company is looking for an industrial partner to acquire its minority stake by June, but sources said Sasol will also consider the formation of a joint venture.
Bank of America has been drafted to help Sasol find a buyer, Bloomberg’s coverage said.
The 400-acre Lake Charles chemical complex consists of seven manufacturing units that produce specialty chemicals and ingredients for personal care products like shampoo and cosmetics, according to information on the company’s website. The company is also building a world-scale ethane cracker capable of producing 1.5 million tn/yr of ethylene near the Lake Charles site.
For more news headlines, articles, and equipment reviews, visit our Equipment Zones
More Powder & Bulk Solids articles:
You May Also Like
Institution of Chemical Engineers Announces 2024 Award WinnersMar 5, 2024|2 Min Read
USDA Recalls: February 2024Mar 1, 2024|4 Min Read
EPA Protects At-Risk Communities Near Chemical PlantsMar 1, 2024|1 Min Read
Three Chemours Top Execs Placed on LeaveMar 1, 2024|1 Min Read