Schumann/Steier acquires PE wax plant in Texas

30 July 2010 18:46  [Source: ICIS news]

TORONTO (ICIS)--Schumann/Steier Inc (SSI) has completed the acquisition of a polyethylene (PE) wax and custom‐processing plant from Japan’s Chusei Oil Company at Pasadena, Texas, the US marketer of petroleum specialties, drilling fluids and waxes said on Friday.

The plant was producing for a number of industries, including rubber, paints, polishes, polymers and plastics. In addition, it was a custom toll-processor for major chemical companies, SSI said.

The acquisition of the facility, renamed SSI Chusei, was a vertical backward integration for SSI that added custom production capability to its marketing business, the company said.

Peter Loggenberg, SSI Chusei’s newly appointed president, said of the acquisition: “This is a vertical integration of SSI’s marketing proficiency with custom production capability in response to what we feel are the present and future needs of the market.”

The plant had several stainless steel reactors, wiped film evaporators and forming belts, as well as a spray former and drum flaker, SSI said. The site at Pasadena had direct rail and truck access and was close to the Port of Houston, the firm added.

Financial terms or capacity details were not disclosed.

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By: Stefan Baumgarten
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