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Solvay to acquire CPChem’s PPS assets for $220 million
8:16 AM MDT | September 4, 2014 | Deepti Ramesh
Solvay has a reached a deal to acquire the polyphenylene sulfide (PPS) business of Chevron Phillips Chemical (CPChem) for $220 million. Solvay will acquire two Ryton PPS resin manufacturing units at Borger, TX; its pilot plant along with its PPS R&D assets at Bartlesville, OK; a compounding plant at Kallo-Beveren, Belgium; and certain intellectual property relating to the PPS business. CPChem's compounding unit at La Porte, TX, will remain part of CPChem and will provide temporary tolling services to Solvay. The deal is expected in the fourth quarter...
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