Part of Arco Chemical will be offered...

Part of Arco Chemical will be offered to the public. Atlantic Richfield said “less than 20%” of its chemical subsidiary will be sold. Arco said previously it was considering such a step in an effort to set the profitable unit apart as a separate company. Analysts have estimated the sale of 20% of Arco Chemical stock in a public offering could generate $500 million for Arco because of the favorable supply-demand situation for industrial chemicals. The unit is the nation’s largest producer of propylene oxide, a key ingredient in urethane foam.