Chevron Phillips Chemical Completes Acquisition PAO Plant in Belgium

Chevron Phillips Chemical Completes Acquisition of PAO Plant in Belgium

10:45 PM, 1st December 2011
Chevron Phillips Chemical Completes Acquisition of PAO Plant in Belgium

TEXAS, US: Chevron Phillips Chemical International NV, a wholly owned subsidiary of Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical),  announced that it has successfully completed the acquisition of a polyalphaolefin (PAO) plant located in Beringen, Belgium from Neste Oil, NV, an indirect wholly owned subsidiary of Neste Oil Corporation.

“By closing this transaction we have created a unique position for Chevron Phillips Chemical Company,” said Dennis Holtermann, general manager, normal alpha olefins and polyalphaolefins for Chevron Phillips Chemical. “The addition of this plant to our existing production capabilities enables us to better service the growing demand for PAOs that are used in high performance lubricants and other applications.”

Chevron Phillips Chemical is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping and polymer resins. The LLC and its affiliates own over $8 billion in assets and employ approximately 4,700 people at 40 manufacturing and research facilities in eight countries.

Neste Oil is a Finnish oil refining and marketing company producing mainly transportation fuels and other refined petroleum products. Neste Oil has three business areas: oil products, oil retail and renewable fuels. It produces, refines and markets oil products and shipping and engineering services, as well as licensing production technologies. Its main products are gasolines, diesel fuels, aviation fuels, marine fuels, heating oil, heavy fuel oils, base oils, lubricants, and traffic fuel components, solvents, LPG and bitumen.


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