SAN RAMON (dpa-AFX) - Solvay S.A. (SVYSY.PK) announced it has signed an agreement to buy the Ryton PPS (polyphenylene sulphide) business from U.S.-based petrochemical company Chevron Phillips Chemical Company for $220 million. 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.
'Ryton PPS fits neatly with our unique specialty polymers portfolio and reinforces our unrivalled capabilities to provide solutions to our customers in dynamic innovative end-markets,' said Augusto Di Donfrancesco, President of Solvay Specialty Polymers.
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