Japan's Eneos to acquire U.S. chemical maker TPC

Key facts

• Eneos Holdings will purchase all of Texas-based chemical manufacturer TPC Holdings.
• The acquisition is part of Eneos' strategy to expand in the U.S. chemical market.
• The U.S. chemical market is eight times larger than Japan's market.

Japanese oil company Eneos Holdings announced Friday its plan to acquire TPC Holdings, a chemical manufacturer based in Texas. The terms of the deal were not disclosed. This acquisition represents a strategic move by Eneos to increase its presence in the United States chemical market, which is significantly larger than its domestic market in Japan. The U.S. market is noted to be eight times the size of Japan's.