Good question Bob' Offhand I don't know. I'll look into it and see what I can find out. If someone else knows and would like to post. TIA
RR
I saw this interesting tidbit on MTBE fairly recently. A sale by the company (Huntsman)who makes it.
Huntsman Sells Assets for $269 Million
Thursday April 6, 4:08 pm ET
Huntsman Sells Assets From U.S. Butadiene and MTBE Business to Texas Petrochemicals
THE WOODLANDS, Texas (AP) -- Global chemical manufacturer Huntsman Corp. said Thursday it has agreed to sell assets from its U.S. butadiene and MTBE business to Texas Petrochemicals L.P. for $269 million.
Huntsman gained ownership of the butadiene and MTBE business when it acquired Texaco Chemical Co. in 1994.
Butadiene is used to make synthetic rubbers, while MTBE, or methyl tertiary butyl ether, is a gasoline additive used to reduce pollution.
Last year, Congress passed a new energy bill designed to eliminate the 2 percent oxygenate requirement for gasoline.
MTBE, which is a type of oxygenate found to contaminate groundwater, can still be used by oil refiners. But many of them will stop using it on May 5, when the new rule becomes effective because Congress refused to grant them protection from lawsuits.
Both companies declined to comment on the transaction.
The Port Neches, Texas-based facility, with about 220 employees, posted fiscal 2005 revenue of about $645 million and adjusted earnings before interest, taxes, depreciation and amortization of approximately $43 million.
The company expects to close the transaction in May.
Shares of Huntsman fell 53 cents, or 2.7 percent, to $1
biz.yahoo.com |
