Ineos buys Texas cumene unit from Chevron Phillips

31 October 2005 19:33  [Source: ICIS news]

HOUSTON (ICIS news)--Chevron Phillips Chemical has sold a Port Arthur, Texas cumene unit to Ineos Americas for an undisclosed sum, the companies said on Monday.


The unit at Chevron Phillips’ Port Arthur facility will become part of Ineos’ phenol division. Chevron Phillips previously idled the cumene unit in 2003 due to poor market conditions, the company said.


Chevron Phillips Chemical said it would provide certain tank operations and maintenance services related to the cumene unit. Cumene is an intermediate used in the production of phenol and acetone.


The Woodlands, Texas-based Chevron Phillips Chemical said it will continue operation of its olefins complex as well as the existing cyclohexane unit at the Port Arthur facility.


Headquartered in Mobile, Alabama, Ineos Phenol said it is the world’s largest maker of phenol and acetone.

By: Brian Ford
+1 713 525 2653

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