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ExxonMobil considers sale of UK and Belgian chemical plants for $1 billion.
ByAinvest
Thursday, Sep 4, 2025 1:29 am ET1min read
ExxonMobil is considering the sale of its European chemical plants in the UK and Belgium, with potential sales valued at over $1 billion. The company is in preliminary discussions with interested parties, but no formal decision has been made. The sale would be part of ExxonMobil's efforts to streamline its operations and focus on core businesses.
ExxonMobil Corp (XOM.N) is exploring the potential sale of its European chemical plants in the UK and Belgium, with preliminary discussions yielding an estimated value of over $1 billion. The decision to offload these facilities is driven by the sector's challenges, including the impact of U.S. tariffs and increased competition from Chinese producers [1][2].According to sources familiar with the matter, ExxonMobil has been in early-stage discussions with advisers regarding the possible sale of these plants. The company is considering facilities such as the Ethylene plant in Fife, Scotland, and another major site in Belgium. The potential sale is part of ExxonMobil's broader strategy to streamline operations and focus on its core businesses [2].
The energy giant has been under pressure to reduce costs and improve profitability, as seen in its cumulative structural cost savings of $13.5 billion since 2019. ExxonMobil aims to achieve a total of $18 billion in structural savings by 2030, enabling it to sustain high levels of investment and deliver robust shareholder distributions [3].
While no formal decision has been made regarding the sale of the European chemical plants, the move aligns with ExxonMobil's broader cost-cutting and operational efficiency initiatives. The company's stock has declined by 4.6% over the past year, trading at an enterprise value to EBITDA ratio of 7.24X, which is above the broader industry average of 4.35X [3].
References:
[1] Reuters. "Exxon Mobil Corp." September 4, 2025. https://www.reuters.com/business/energy/exxonmobil-considers-sale-european-chemical-plants-ft-reports-2025-09-04/
[2] Seeking Alpha. "ExxonMobil Eyes $1 Billion Sale of Chemical Plants in UK and Belgium — Report." https://seekingalpha.com/news/4492099-exxonmobil-eyes-1-billion-sale-of-chemical-plants-in-uk-and-belgium---report
[3] Yahoo Finance. "ExxonMobil's Structural Cost Savings Drive." https://finance.yahoo.com/news/exxonmobils-structural-cost-savings-drive-132200570.html
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