CPChem Completes PAO Acquisition from Nestle Oil

Chevron Phillips Chemical (CPChem) says it has completed the acquisition of a polyalphaolefin (PAO) plant at Beringen, Belgium from Neste Oil. The purchase price was not disclosed but Neste says the “divestment will have a minor positive impact” on results. The plant makes Group IV base oils, which are the main component used in high-performance synthetic lubricants and premium motor oils, the company says. Neste Oil started base oil production at Beringen in 1991. “The addition of this plant to our existing production capabilities enables us to...

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