20:03 PM | October 15, 2020 | Clay Boswell
Arlanxeo is selling its Canadian olefins business, which produces butadiene and raffinate in Sarnia, Ontario, to Mitsubishi Corp. for an undisclosed sum. Arlanxeo expects the deal to close in the first half of 2021.
Mitsubishi Corp. intends to continue operations in Sarnia and to retain the associated employees. Arlanxeo, a producer of synthetic rubber, will continue to produce butyl rubber at Sarnia.
Arlanxeo has 120,000 metric tons/year of butadiene capacity and 150,000 metric tons/year of butyl rubber capacity at Sarnia. The company is a wholly owned subsidiary of Saudi Aramco.