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CPChem Completes Acquisition of Belgian PAO Plant

10:22 AM MST | December 1, 2011 | Lindsey Bewley

Chevron Phillips Chemical (CPChem) says it has completed the acquisition of a polyalphaolefin (PAO) plant at Beringen, Belgium from Neste Oil. “The addition of this plant to our existing production capabilities enables us to better service the growing demand for PAOs that are used in high performance lubricants and other applications,” says Dennis Holtermann, general manager/normal alpha olefins and PAOs for CPChem. The purchase price was not disclosed but Neste says the “divestment will have a minor positive impact” on results. The plant...

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