Bayer to buy PO, polyols assets from Lyondell

11/22/1999
German chemical giant Bayer AG has agreed to buy Lyondell Chemical Co.'s worldwide polyols business and an equity stake in its US propylene oxide (PO) operations for about $2.5 billion.Houston-based Lyondell is the world's largest PO producer and No. 2 supplier of polyols and toluene diisocyanate (TDI). Lyondell says it will continue to be a merchant supplier of PO and focus on expanding its other PO derivatives businesses: propylene glycol, butanediol, and propylene glycol ethers. As part of the deal, Lyondell and Bayer also agreed to pursue a proposed joint-venture worldscale PO/ styrene monomer complex at Maas- vlakte, the Netherlands (OGJ, Jan. 26, 1998, p. 54).Assets covered by...
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