CHINA: Chevron Phillips Chemical divests Chinese PS assets to Grand Astor

"The PS plant is a productive and valued asset, but as a standalone operation for Chevron Phillips Chemical in China, the company has determined the asset is not a strategic fit," explained Dan Coombs, senior vice president of specialties, aromatics and styrenics.

"We look forward to working with the buyer to enable a smooth ownership transition for both employees and customers," Coombs added.

The plant was started up in November 2000 with 100,000 t/y of PS capacity. Current capacity and terms of the transaction were not disclosed.

Source: Weekly "PetroChemical News", Durham, NC, USA; 4 Nov 2013(Syed Rashid Ali, karachi, Pakistan)