Refining merger may speed expansions
Journal Article
·
· Chemical Week
OSTI ID:482433
Independent refiners and marketers Ultramar Corp. (Greenwich, CT) and Diamond Shamrock (San Antonio, TX) plan to merge to form Ultramar Diamond Shamrock (UDS; San Antonio). Each Diamond Shamrock share will be converted into 1.02 shares of Ultramar common stock. The company will have revenues of more than $8 billion and a market capitalization of $2.3 billion. Ultramar has no petrochemical presence, but the new company will continue Diamond Shamrock`s expansion plans in aromatics and propylene and will explore further development, says chairman Roger Hemminghaus.
- OSTI ID:
- 482433
- Journal Information:
- Chemical Week, Vol. 158, Issue 37; Other Information: PBD: 2 Oct 1996
- Country of Publication:
- United States
- Language:
- English
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