Sumitomo Corporation Expands Market Presence and Function in U.S. Sulfuric Acid Business with Acquisition of Saconix LLC
NEW YORK, June 8, 2023 /PRNewswire/ -- Sumitomo Corporation of Americas (SCOA) together with its parent, Sumitomo Corporation Japan (SC) announced its acquisition of Saconix LLC (Saconix), a company engaged in the procurement, sale, storage and distribution of sulfuric acid in the Western U.S. and the Gulf Coast region, expanding its market presence in the Sulfuric Acid business in North America.
- NEW YORK, June 8, 2023 /PRNewswire/ -- Sumitomo Corporation of Americas (SCOA) together with its parent, Sumitomo Corporation Japan (SC) announced its acquisition of Saconix LLC (Saconix), a company engaged in the procurement, sale, storage and distribution of sulfuric acid in the Western U.S. and the Gulf Coast region, expanding its market presence in the Sulfuric Acid business in North America.
- Sumitomo Corporation of Americas together with its parent, Sumitomo Corporation Japan, has acquired Saconix LLC
Sumitomo agreed to fully acquire Saconix from Dallas based owners, Copperbeck Energy Partners, a portfolio company of Tailwater Capital, LLC. - "We expect to provide additional value and high service to our customers through the strong synergies of our global Sulfuric Acid business."
- This acquisition represents Sumitomo Corporation's ongoing commitment to expanding business and facilitating global carbon reduction to achieve carbon neutrality by 2050.