ExxonMobil completes acquisition of Jurong Aromatics plant

Singapore

EXXONMOBIL has completed its acquisition of Jurong Aromatics Corporation's (JAC) Jurong Island plant, one of the largest aromatics facilities in the world.

The deal was first announced in May this year. The acquisition sum was not disclosed, but industry observers had estimated the purchase price to be as high as US$1.7 billion; bids from the South Korean companies were said to be in the region of US$1 billion.