Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Singapore Aromatics Maker Struggles

by Jean-François Tremblay
October 5, 2015 | A version of this story appeared in Volume 93, Issue 39

Jurong Aromatics, a Singapore-based petrochemical producer, has filed for bankruptcy reorganization slightly more than a year after starting up its facilities. The company, a producer of p-xylene, benzene, o-xylene, and various fuels, owes about $1.7 billion to a consortium of banks. Jurong’s downfall was unexpected. In 2011, it claimed to have found buyers of its output for the first seven years of operations. Media reports say that Jurong has been accumulating losses because the rapid fall in oil prices cut into its profit margins. The company is owned by a consortium that includes South Korea’s SK Energy, China’s Jiangsu Sanfangxiang, and the Singapore government.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.