Sector News

Chevron Phillips Chemical sells business to Solvay Specialty Polymers for $220 million

September 10, 2014
Energy & Chemical Value Chain
(Associated Press) – Chevron Phillips Chemical is selling its high-performance engineering polymer business for $220 million.
 
Chevron said that its Ryton polyphenylene sulfide operations are a better fit at Solvay Specialty Polymers USA LLC, which is buying its factories and laboratories.
 
Solvay has a strong engineering polymers portfolio.
 
The companies expect the deal to close in the fourth quarter.
 
Ryton is used heavily in the automotive sector, helping reduce the number of metal parts needed and making cars lighter and more energy efficient. It also enhances filter bags that reduce pollution at coal-fired power plants and the fire resistance of electronics components.
 
Chevron will sell manufacturing operations in Texas, laboratories in Oklahoma and a compounding plant in Belgium as part of the deal.
 
Chevron Phillips Chemical Co., based in The Woodlands, Texas, was formed in 2000 when Chevron Corp. and Phillips Petroleum Co., now Phillips 66, combined their worldwide petrochemical businesses. Each company owns a 50 percent stake in Chevron Phillips.
 

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