Global chemical company Solvay has completed the acquisition of the Ryton® PPS (polyphenylene sulphide) business from U.S.-based Chevron Phillips Chemical Company for $220 million.
Solvay’s Global Business Unit (GBU) Specialty Polymers has bought two Ryton PPS resin manufacturing units in Borger, Texas, a pilot plant and R&D laboratories in Bartlesville, Oklahoma, as well as a compounding plant in Kallo-Beveren, Belgium, with a total of about 200 employees joining the group. Chevron Philips Chemical’s compounding unit in La Porte, Texas, will provide temporary tolling services to Solvay, allowing for an orderly transition with the Ryton customer base.
The acquisition is part of Solvay's strategic development to enhance its specialized solutions, deliver higher growth and greater returns while reducing cyclicality, the company said in a press release.
