Sasol expands in China

Article Excerpt

SASOL LTD. (ADR) $28.68 (New York symbol SSL; TSINetwork Rating: Extra Risk) (082883-9697; www.sasol.com; ADRs outstanding: 651.4 million; Market cap: $19.6 billion; Dividend yield: 2.6%) has now started construction of its new alkoxylation plant in Nanjing, Jiangsu Province, China. The plant is expected to begin operations in early 2019. Alkoxylation is a process that converts alcohols from oil and gas into water-soluble chemicals used in detergents, personal-care products, textiles and leather goods, metal work, paper inks and synthetic coatings. The new production unit will modernize and expand Sasol’s current alkoxylation capacity, along with its research and technical support in China. The facility will also strengthen the company’s position in Asia and help it meet the growing demand for specialty chemicals. Sasol ADRs are a buy. buy…