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Sumitomo Corporation acquires Saconix

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Meenal Datar

Membership specialist

Electric services company, Sumitomo Corporation (America division) has completed the acquisition of distribution and transport service of sulfuric acid in USA West and Gulf, Saconix.

Sumitomo Corporation sulfuric acid business has its origins in the export of sulfuric acid, out of Japan. The strategically located sulfuric acid storage tanks, owned by the group, and the highly trained safety operations enable the Sumitomo Corporation supply customers with the required quantities at any time demanded.

Sumitomo Group says: ‘We will therefore strive to provide further added value through the generation of synergetic effects between the two businesses. By making Saconix its wholly owned subsidiary, the Sumitomo Corporation will acquire new logistics bases in the western part of the USA and the Gulf Coast region, boost its worldwide sulfuric acid storage capacity to 19 tanks, or about 330,000 tons (299,000 tonnes), and increase its trading volume to about 3.5 million tons (3.1 million tonnes) of sulfuric acid per year.’

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