Lion Copolymer buys fellow e-SBR producer

BATON ROUGE, La. — Lion Copolymer Holdings, one of three remaining emulsion styrene-butadiene rubber (e-SBR) producers in the U.S., has purchased the assets of East West Copolymer L.L.C., one of the other producers, which filed for bankruptcy protection in April.

The transaction is valued at $5.6 million, according to court documents.

Both companies, which are based in Baton Rouge, were parties to an action seeking U.S. government import protection from certain e-SBR imports from Poland, Mexico and South Korea.

Lion Elastomers, part of Lion Copolymer Holdings, said June 2 that the sale was approved in the U.S. Bankruptcy Court for the Middle District of Louisiana on May 19 and the transaction closed on 26 May.

Lion Elastomers is reviewing the condition of the assets, which were built by the U.S. government during World War II. The site will be decommissioned and will remain idled while Lion Elastomers evaluates its strategic options.

East West Copolymer also maintained capacity for nitrile-butadiene rubber at its Baton Rouge plant. The bankruptcy affected approximately 110 employees.