2014-2016 Exhibitions
Belgian chemicals firm Solvay has signed an agreement to buy the Ryton PPS (polyphenylene sulphide) business from US-based petrochemical company Chevron Phillips Chemical Company for US$220 million. The group will buy from Chevron Phillips two Ryton PPS resin manufacturing units in Borger, Texas, its pilot plant along with R&D laboratories in Bartlesville, Oklahoma, and a compounding plant in Kallo-Beveren, Belgium. Chevron Philips's compounding unit in La Porte, Texas, will provide temporary tolling services to Solvay.
“Ryton PPS fits neatly with our unique speciality polymers portfolio and reinforces our unrivalled capabilities to provide solutions to our customers in dynamic innovative end-markets," said Augusto Di Donfrancesco, President of Solvay Specialty Polymers.
Solvay plans to invest in a PPS production technology developed by Chevron Phillips that hasn’t “achieved its full potential,” the company said. Completion of the deal is expected in the fourth quarter.
Chevron Phillips, equally owned by subsidiaries of Chevron Corp. and Phillips 66 (PSX), is headquartered in The Woodlands, Texas.
(PRA)
