Vesca Corporation

Vesca Corporation was established in 2004 as an acquisition vehicle for the purchase of Qenos Holdings. Vesca Corporation's purchase proposal delineated from the proposed sales memorandum established by the principal's in that the proposal included the remediation of Botany Industrial and Altona Petrochemical Complexes via the acquisition of land from the existing owners, and in the due diligence process the group set out to examine the possibility of altering the feedstocks from ethane to LPG for production of synthetic elastomers and polymers with the support of key upstream and downstream beneficiaries. The ultimate outcome of the bidding process was that Qenos Holdings was subsequently sold to ChemChina in 2006.