OK
The Universal Selection Source:
Adhesives Ingredients
Industry News

SASOL Wax Acquires Luxco Wax to expand operations in North America

Published on 2008-03-31. Author : SpecialChem

Sasol Wax, the leading producer and marketer of synthetic and petroleum-derived wax, announced today that it has acquired the remaining 50% share of its North American joint venture Luxco Wax, turning it into a wholly owned Sasol Wax operation.

Luxco Wax, with a unique blending plant located in Richmond, California, is a leading supplier of wax specialities to a diverse group of industries, with particular strengths west of the Rocky Mountains. Sasol Wax has enjoyed a successful partnership in Luxco Wax since 1998.

This acquisition is a key part of a process to consolidate and focus Sasol Wax's holdings and position in the global market place. Apart from this acquisition, Sasol Wax sold its shares in two joint ventures in mid 2007 and earlier this year acquired the outstanding 50% share in Merkur, a former joint venture with Shell in Germany.

Merkur markets petroleum jelly into the personal care market and, like Luxco Wax, will be merged into Sasol Wax's global business.

"In line with Sasol's strategy to grow its energy as well as its chemical businesses, these divestments and acquisitions have enabled Sasol Wax to introduce its proprietary knowledge and technology into its new subsidiaries and to grow its market share," says Reiner Groh, group general manager Sasol Chemical Business Cluster.

"It is our strategy to focus on value added wax applications worldwide. We are advancing research to develop and grow our existing broad product portfolio significantly, while offering extensive product customisation flexibility to meet customers' needs," says Sasol Wax MD Johan du Preez.

Sasol Wax last year benefited from a strong demand for specialities made of hard waxes manufactured at Sasolburg and its facilities in Germany and elsewhere. In line with projected growth in key markets the company plans to double the production capacity of synthetic wax at its Sasolburg plant in South Africa by 2013.

Speciality waxes are used amongst others, in emulsions, coatings, hot melt adhesives, inks and bitumen, in industries ranging from paper and packaging to construction, personal care, printing and tyre production.

Sasol Wax is a 100% subsidiary of the South African company, Sasol Limited. It employs 1,100 people worldwide, with its head office in Hamburg, Germany. It has a number of manufacturing facilities in Europe, South Africa and now the USA. It has an annual consolidated turnover of € 600 million and is one of the world's leading producers and marketers of synthetic and petroleum derived waxes.

Forward Looking Statements:

Sasol may, in this document, make statements that are not historical facts and relate to analyses and other information based on forecasts of future results and estimates of amounts not yet determinable. These are forwardlooking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "endeavor" and "project" and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may be very different from those anticipated. The factors that could cause our actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements are discussed more fully in our registration statement under the Securities Exchange Act of 1934 on Form 20-F filed on November 21, 2007 and in other filings with the United States Securities and Exchange Commission. Forward looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.

Source: Sasol Wax


Improve your performance with water soluble epoxy compounds
Channel Alerts

Receive weekly digests on hot topics

Back to Top