Jurong Aromatics will change hands

Jurong Aromatics, a bankrupt aromatics producer in Singapore, is about to change hands. South Korea’s Lotte Chemical has disclosed that it is no longer considered a preferred bidder for the firm. Instead, ExxonMobil, which operates a large petrochemical facility in Singapore, will acquire Jurong, according to media reports. Neither the U.S. oil firm nor Jurong will confirm the reports. Jurong filed for bankruptcy in the fall of 2015.