July 29, 2008 at 2:05 am #3510
Oxbow acquires Lemont coke company
June 24, 2008 Southtown Star Business:
Oxbow Midwest Calcining LLC, a subsidiary of Oxbow Carbon LLC, has acquired Chicago Carbon Co.’s petroleum coke calcining facility in Lemont.
Oxbow is one of the largest producers and markets of coal, petroleum coke and other carbon products in the world. The company has annual sales of $3.7 billion, 1,200 workers worldwide and three plants in the U.S. and one in Argentina.
July 29, 2008 at 2:13 am #6688
Here is an update on the purchase chain of the original Unocal-Citgo JV Stand alone coker/calciner assets.
When Unocal sold-off Chicago Carbon calcing plant to Chevron Mining in 2005, it also spun off its Texas Seadrift LLC stand alone needle coker/calciner assets to become Seadrift Coke Ltd. (Recently 18% of which was recently purchased 2008 by GrafTech). The original Needle coker company ~became defunct at that point because Citgo had purchased back the 2 Lemont needle coke drums and tied them into the fuel coker system and once Seadrift was sold Chicago Carbon it no longer had access to green needle coke.
About month ago Oxbow picked up Chicago Carbon (rumor one drivers was that Oxbow was losing more of Salt Lake Anode green coke supply to Chicago Carbon & earnings at Chicago Carbon were picking up. But Chicago also has had good presence in TiO2 industry petcoke that Oxbow competes with via GLC addition and that is also strategic fit.
As background – either Seadrift calciner or Lemont Needle Coke calciner have been down in alternating which one is out of service or shutdown since ~2002 and the loss of the equivalent 175kmtpy calcined needle coke put the market demand somewhere between barley balanced to a short position (even before China / India growth ramped up the global Graphite Electrode market demands).
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