HOUSTON (ICIS)--ExxonMobil has acquired the Lion Copolymers Services facility in Baton Rouge, Louisiana, including the styrene butadiene rubber (SBR) plant, the US-headquartered chemicals major confirmed on Tuesday.
The facility is adjacent to ExxonMobil’s chemical site, which includes a cracker and butadiene (BD) extraction unit. BD is a major feedstock for SBR and other synthetic rubbers.
However, ExxonMobil said on Tuesday that there are no plans to restart SBR production at the plant, which was shuttered in March.
“While the additional acreage presents unique synergies with our integrated complex and helps to position ExxonMobil Chemical assets for potential future investments, there are no plans for continuing current production operations and no immediate plans for new projects at this facility,” a spokesperson said in an emailed statement to ICIS.
Lion had acquired the SBR production site, which also makes nitrile butadiene rubber (NBR), in May from East West Copolymer for $5.6m. East West shuttered the plant in March and filed for bankruptcy in April.
In early 2014, East West had acquired the plant from Lion Copolymer. Lion had announced in December 2013 that it was temporarily shutting down the SBR plant because of unfavourable economic conditions.