BATON ROUGE, La.—Seven months after joining Lion Elastomers L.L.C. in petitioning the International Trade Commission for emulsion styrene-butadiene rubber dumping relief, East West Copolymer L.L.C. filed for bankruptcy and shuttered its doors.
Things have moved quickly since.
The former East West facility sold twice since its closure in March, first to Lion and then to ExxonMobil Corp., each time for a reported purchase price of $5.6 million.
ExxonMobil confirmed the purchase of the 94-acre East West property adjacent to its chemical plant in Baton Rouge, but said it has no immediate plans for reopening the former ESBR facility. A spokesman for ExxonMobil noted that the additional acreage provides unique synergies with the firm's integrated complex and helps position the company for potential future investments.
Jesse Zeringue, Lion's CEO and president, could not be reached for comment.
Meanwhile, the ITC ruled in favor of U.S. ESBR producers after finding evidence of material injury to the industry caused by ESBR imports from Mexico and three other countries.
The Mexican Ministry of Economy announced Aug. 10 that it was initiating an investigation of alleged ESBR dumping in the Mexican market by producers from South Korea, Poland, Japan and the U.S.