Solvay to buy Ryton PPS for $220M

Solvay (OTCPK:SVYZY) will buy Ryton PPS, a specialty polymers business, from Chevron Phillips (CVX, PSX) for $220M.

The acquisition includes Ryton PPS's resin manufacturing units in Texas, pilot plant and research and development laboratories in Oklahoma and compounding plant in Belgium.

The transaction is expected to be completed in Q4 of 2014.

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Comments (1)
  • Michael Fitzsimmons
    , contributor
    Comments (11851) | Send Message
    PSX's take from the 50/50 JV would be $110 million, or about $0.20/share.
    Gotta love this company!
    4 Sep 2014, 09:39 AM Reply Like
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