26 August 2009 18:20 [Source: ICIS news]
HOUSTON (ICIS news)--Flint Hills Resources sold its polypropylene (PP) and amorphous polyalphaolefin (APAO) site in Odessa, Texas, to a local company, a development for which neither company was immediately available for comment on Wednesday.
The buyer, Rextac, closed the deal on 7 August, according to the deed. The sale price was not disclosed.
Flint Hills announced it was shutting down the site in November.
The Odessa Chamber of Commerce had offered to help Flint Hills find a buyer for the complex.
Rextac initially plans to produce 80m lb/year (36,000 tonnes/year) of APAO, according to the Odessa American newspaper. Rextac will rely on rail shipments of propylene as feedstock, since Flint Hills closed a nearby olefin unit.
Rextac plans to spend $10m (€7m) to reconfigure the plant for stand-alone operations, according to the newspaper.
The Odessa complex has a capacity of 95,000 tonnes/year for polypropylene (PP), according to data from ICIS plants and projects.
($1 = €0.70)
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