Axiall has sold its aromatics division and its Pasadena, Texas, manufacturing facility to INEOS Americas for $62.9 million, the company announced today. It is Axiall’s second sale of non-core assets this year, following the divestiture of its phosgene business in February. Axiall has retained its phenol facility in Plaquemine, Louisiana, and will conduct a wind-down of the plant by the end of this year.
Axiall Interim CEO Tim Mann said the sale would help the company focus more on its chlorovinyls, derivatives and specialties businesses.
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