Chevron Phillips Chemical to sell Ryton PPS business to Solvay

15/09/2014

Chevron Phillips Chemical Company (The Woodlands, TX) will divest its Ryton polyphenylene sulfide (PPS) business to Solvay Specialty Polymers USA ((Alpharetta, GA) for $220 million. The announcement comes at a time when incumbent and new players are investing aggressively in new polymerization and compounding capacity meaning despite strong market growth, suppliers are facing ever increasing competition.

"As the inventors of the PPS production technology, Chevron Phillips Chemical is proud of the success story of Ryton PPS and how the business has served the industry for over 40 years," said Ron Corn, senior vice president of specialties, aromatics and styrenics for Chevron Phillips Chemical. "And to ensure its long-term success, Chevron Phillips Chemical determined its stand-alone PPS business is a better strategic fit for Solvay, a company with a strong engineering polymers portfolio."
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