Word: coryton
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Dates: during 1950-1959
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...York's Socony-Vacuum Oil Co., Inc. joined with Powell Duffryn, Ltd., Britain's largest coal firm, to build a $30 million oil refinery in Coryton, England. Under the deal, Socony sold a half-interest in its British subsidiary. Vacuum Oil Co., Ltd., to Powell Duffryn, in exchange for ?3,500.000 ($9,800,000) and the refinery site. Socony has put $3,000,000 in new capital into Vacuum Oil, will loan it $2,800,000 more to help start up refining operations. The deal will permit Socony to sell refined products in the sterling area despite Britain...
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