The Belgian chemical company, Solvay Specialty Polymers, has signed a deal to buy the Ryton PPS (polyphenylene sulphide) business from the American petrochemical company Chevron Phillips Chemical. The agreement is for an estimated USD $220 million.
With this acquisition Solvay will gain access to new business segments and customers and broaden its offer in many innovative and demanding applications. Ryton PPS has a strong share in the automotive sector, replacing metal parts to make cars lighter and more energy efficient.
The Group will buy from Chevron Phillips Chemical two Ryton PPS resin manufacturing units in Borger, Texas, its pilot plant along with R&D laboratories in Bartlesville, Oklahoma, and a compounding plant in Kallo-Beveren, Belgium. Chevron Philips Chemical’s compounding unit in La Porte, Texas, will provide temporary tolling services to Solvay.