Axiall agreed to sell its La Porte, Texas, chemical plant to Houston-based ALTIVIA Specialty Chemicals. The plant is the largest producer of merchant phosgene derivatives in North America. Axiall President and CEO Paul Carrico said in a statement the plant is a “better strategic fit” for ALTIVIA. ALTIVIA will hire the 120 employees who operate the facility.
Axiall did not disclose the terms of the transaction, which is expected to close within 45 days.
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