Arlanxeo, a wholly-owned subsidiary of Saudi Aramco, is selling its Canadian olefins business to Mitsubishi Corp. in a deal expected to close in the first six months of 2021. The value of the deal was undisclosed.
Arlanxeo’s Canadian olefins business produces 120,000 tpa of butadiene, 150,000 tpa of butyl rubber, and raffinate in Sarnia, Ontario.
After the deal, Mitsubishi would resume operations in Sarnia, and it would retain the associated employees. Arlanxeo would also continue to produce butyl rubber at Sarnia.
