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Synergy in mergers of petrochemical companies within a complex considering purchasing and selling advantage with process integration / Sung-Geun Yoon in Industrial & engineering chemistry research, Vol. 47 n°15 (Août 2008) 

Public ISBD [article]  in Industrial & engineering chemistry research > Vol. 47 n°15 (Août 2008) . - p. 5556–5567 Titre : Synergy in mergers of petrochemical companies within a complex considering purchasing and selling advantage with process integration Type de document : texte imprimé Auteurs : Sung-Geun Yoon, Auteur ; Seung Bin Park, Auteur ; Sunwon Park, Auteur ; Jeongseok Lee, Auteur Année de publication : 2008 Article en page(s) : p. 5556–5567 Note générale : Bibliogr. p. 5566-5567 Langues : Anglais (eng) Mots-clés : Mergers  --  petrochemical  companies;  Process  integration Résumé : Mergers and Acquisitions, M&A, have been active in the petrochemical industry. However, the synergy created by the merger of petrochemical companies has rarely been studied, although it is the primary goal of a merger. This study deals with the merger of petrochemical companies located within one complex. Synergy considerations resulting from process network and boiler integration with fixed cost reduction and market power increase in upstream market (i.e., resource purchasing advantage) and downstream market (i.e., product selling advantage) are included. A novel mathematical model is formulated that represents the operation of a process network aiming at increasing the profitability of merged companies. The resource purchasing advantage and product selling advantage options are considered by means of various scenarios. The proposed model is applied to Korean Naphtha Cracking Center, NCC, companies in one complex. The results, presented in three case studies, demonstrate that a merger creates synergy primarily from the purchasing advantage and selling advantage options, while the process network and boiler integration which simply collects various processes can create a little synergy. En ligne : http://pubs.acs.org/doi/abs/10.1021/ie071447k [article] Synergy in mergers of petrochemical companies within a complex considering purchasing and selling advantage with process integration [texte imprimé] / Sung-Geun Yoon, Auteur ; Seung Bin Park, Auteur ; Sunwon Park, Auteur ; Jeongseok Lee, Auteur . - 2008 . - p. 5556–5567. Bibliogr. p. 5566-5567 Langues : Anglais (eng) in Industrial & engineering chemistry research > Vol. 47 n°15 (Août 2008) . - p. 5556–5567 Mots-clés : Mergers  --  petrochemical  companies;  Process  integration Résumé : Mergers and Acquisitions, M&A, have been active in the petrochemical industry. However, the synergy created by the merger of petrochemical companies has rarely been studied, although it is the primary goal of a merger. This study deals with the merger of petrochemical companies located within one complex. Synergy considerations resulting from process network and boiler integration with fixed cost reduction and market power increase in upstream market (i.e., resource purchasing advantage) and downstream market (i.e., product selling advantage) are included. A novel mathematical model is formulated that represents the operation of a process network aiming at increasing the profitability of merged companies. The resource purchasing advantage and product selling advantage options are considered by means of various scenarios. The proposed model is applied to Korean Naphtha Cracking Center, NCC, companies in one complex. The results, presented in three case studies, demonstrate that a merger creates synergy primarily from the purchasing advantage and selling advantage options, while the process network and boiler integration which simply collects various processes can create a little synergy. En ligne : http://pubs.acs.org/doi/abs/10.1021/ie071447k