Sector News

Chevron Phillips Chemical Completes Sale of PPS Business to Solvay

January 6, 2015
Energy & Chemical Value Chain
(BUSINESS WIRE) – Chevron Phillips Chemical Company (Chevron Phillips Chemical) announces that it has completed the sale of its Ryton® polyphenylene sulfide (PPS) business to Solvay’s Global Business Unit (GBU) Specialty Polymers (Solvay) for $220 million.
 
As part of the transaction, Solvay purchased the Ryton® PPS unit in Chevron Phillips Chemical’s plant in Borger, Texas; the pilot plant along with the PPS research and development assets in Bartlesville, Oklahoma; the compounding plant in Kallo-Beveren, Belgium; and certain intellectual property relating to the Ryton® PPS business. The compounding plant in La Porte, Texas, will remain part of Chevron Phillips Chemical and will be operated by Chevron Phillips Chemical exclusively for Solvay for some period of time. Nearly all employees of Chevron Phillips Chemical’s Ryton® PPS business have either joined Solvay or were deployed to other parts of our organization.
 
“While the Ryton® PPS business is a better strategic fit for Solvay, we remain committed to our sites in Borger, Texas and Bartlesville, Oklahoma,” said Ron Corn, senior vice president of specialties, aromatics and styrenics for Chevron Phillips Chemical. Chevron Phillips Chemical will continue to manufacture high-quality specialty chemicals at its Borger plant and provide full-scale petrochemical and polymer research including new catalyst development, product and process development, and commercial process support at our research and development center in Bartlesville. Recently, Chevron Phillips Chemical announced plans to build a new polyethylene pilot plant at its research center in Bartlesville.
 
Source: Chevron Phillips Chemical Company LLC

comments closed

Related News

April 26, 2024

CIECH Group will change its name to Qemetica in June

Energy & Chemical Value Chain

We are closing the chapter of the Chemicals Import Export Headquarters, and opening a new chapter under the name of Qemetica – a chemical group driving many industries on all continents. Therefore, the change of name is also accompanied by the adoption of the key goals of the business strategy for the next 6 years. – says Kamil Majczak, President of the Management Board.

April 26, 2024

Neste annouces first success in processing pyrolysis oil from discarded tires

Energy & Chemical Value Chain

In its efforts to advance chemical recycling, Neste has successfully conducted its first processing trial run with a new challenging raw material, liquefied discarded tires. In the processing run, Neste produced high-quality raw material for new plastics and chemicals.

April 26, 2024

Sika opens synthetic fibers production facility in Peru

Energy & Chemical Value Chain

Sika is opening a state-of-the-art facility in Lima, Peru, to produce synthetic macro fibers, and expanding the rollout of a product range with great growth potential in Latin America. With this innovative technology, Sika is further strengthening its position as a leading supplier to the mining industry and a strong partner for infrastructure projects.

How can we help you?

We're easy to reach