Solvay buys Chevron Phillips Chemical’s Ryton polyphenylene sulphide business
In a bid to strengthen its presence in the high-performance polymers segment, chemical maker Solvay SA has acquired Chevron Phillips Chemical’s Ryton polyphenylene sulphide (PPS) business for US$220m.
The transaction includes the transfer of two Ryton PPS resin manufacturing plants in the U.S. state of Texas, a pilot plant and PPS R&D laboratories in the state of Oklahoma, a compounding plant in Belgium, and undisclosed “intellectual property” to Solvay’s global business unit Specialty Polymers.
Under terms of the acquisition, around 200 employees of Chevron Phillips Chemical will join Solvay.
Ryton PPS is widely used in the automotive sector, and to a lesser degree in such applications as electronics and filter bags.
As of January 1, Ryton PPS businesses have been consolidated into Solvay’s accounts.
Chevron Phillips will continue to produce speciality chemicals at its Borger, Tex. plant, as well as engage in petrochemical and polymer research at its R&D centre in Bartlesville, Okla.
Chevron Phillips Chemical recently announced plans to construct a polyethylene pilot plant at the Bartlesville centre.