Chevron Phillips Chemical has agreed to sell its Ryton® polyphenylene sulfide business to Solvay Specialty Polymers for $220 million. Solvay will purchase Chevron Phillips’ resin manufacturing assets in Borger, Texas, its pilot plant and R&D assets in Bartlesville, Okla., and its compounding plant in Belgium. Chevron Phillips will retain its compounding plant in La Porte, Texas, and operate it exclusively for Solvay for an undetermined period of time.
Chevron Phillips Senior Vice President of Specialties, Aromatics and Styrenics Ron Corn said most of the Ryton unit’s 200 employees would have the opportunity to join Solvay. The transaction is expected to be complete in the fourth quarter of this year.
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