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[ahlam1399]

Chevron Phillips Chemical an**unced today that it signed an agreement to sell its Ryton® polyphenylene sulfide (PPS) business to Solvay Specialty Polymers USA, LLC for $220 million. Ryton® PPS has served the industry for more than 40 years, and to ensure its long-term success, CPChem determined its stand-alone PPS business is a better strategic fit for Solvay, a company with a strong engineering polymers portfolio. Ryton® PPS will join with Solvay?s eight other prominent and distinctive product lines to form a family of engineering polymer products that will serve a growing number of applications. As part of the transaction, Solvay intends to purchase Chevron Phillips Chemical?s Ryton® PPS resin manufacturing assets in Borger, Texas, its pilot plant along with its PPS research and development assets in Bartlesville, Oklahoma, its compounding plant in Kallo-Beveren, Belgium, and certain intellectual property relating to Chevron Phillips Chemical?s Ryton® PPS business. The compoundin

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