Chevron Phillips Chemical subsidiary to buy Neste Oil polyalphaolefin plant

Chevron Phillips Chemical International, a subsidiary of Chevron Phillips Chemical, has entered into an agreement to acquire a polyalphaolefin plant located in Beringen, Belgium, from Neste Oil.

Dennis Holtermann, general manager for normal alpha olefins and polyalphaolefins at Chevron Phillips Chemical, said the addition of this plant would more than double the company's production capability.

The deal is anticipated to be completed within a few months, following regulatory approvals and satisfaction of necessary closing conditions.

Chevron Phillips Chemical is a producer of olefins and polyolefins, and a supplier of aromatics, alpha olefins, styrenics, speciality chemicals, plastic piping and polymer resins.