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.

To discuss issues facing the chemical industry go to ICIS connect

By: Stefan Baumgarten
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly