CP Chem sells Ryton PPS business to Solvay

: Petrochemicals
15/01/05

Chevron Phillips Chemical announced today it completed the sale of its Ryton polyphenylene sulfide (PPS) business to Solvay's Global Business Unit Specialty Polymers for $220mn.

Solvay purchased the Ryton PPS unit at Chevron Phillips' plant in Borger, Texas; the pilot plant and PPS research and development assets in Bartlesville, Oklahoma; the compounding plant in Kallo-Beveren, Belgium as well as certain intellectual property relating to the Ryton PPS business.

Under the agreement, the compounding plant in La Porte, Texas will remain part of Chevron Phillips Chemical and will be operated by CP Chem exclusively for Solvay for an unspecified period of time.

Ryton PPS is an engineering plastic used to replace metal components in the automotive sector.

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