Home / Knowledge / News / Textiles / Motiva to buy Flint Hills Resources

Motiva to buy Flint Hills Resources

27
Aug '19
Pic: Motiva
Pic: Motiva
Motiva Enterprises LLC, the US refining arm of Saudi Aramco, has signed an agreement with an affiliate of Flint Hills Resources for Motiva to acquire a 100 per cent ownership interest in Flint Hills Resources Port Arthur, LLC. The potential acquisition is targeted to close in the fourth quarter of 2019, subject to satisfaction of closing conditions.
 
The parties will not be disclosing the terms of the transaction, Motiva said on its website.
 
"Motiva is an investment-grade, independent, and entrepreneurial enterprise. As a wholly owned affiliate of Saudi Aramco, we have an owner company that supports our growth and expansion plans and enables us to respond quickly to the market and capitalise on opportunities," says the Motiva website.
 
"As we study the feasibility of the various growth opportunities available, investments will be driven largely by our ability to compete with opportunities available to Saudi Aramco elsewhere in the US and the world. Each potential opportunity is evaluated in four key areas: strong economics, fair regulations, competitive incentives, and community support.
 
"Our current focus on petrochemicals is being worked as three separate projects: aromatics, olefins and ethylene derivatives. The locations under review for these projects include sites along the Gulf Coast in Texas and Louisiana," the website added.
 
Based in Wichita, Kansas, Flint Hills Resources is an independent company and wholly owned subsidiary of Koch Industries, Inc., one of the largest private companies in America. The Flint Hills plant operates a 1.57-billion-pound-per-year ethylene cracker, among other units. (RKS)
 

Fibre2Fashion News Desk – India


Interviews View All

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Sunil Rathore, Lacoste India

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Lin Jing,

Lin Jing

Jiangsu New Victor is a Chinese mechanical equipment manufacturing...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search