Chevron Phillips sells polystyrene business

Chevron Phillips Chemical Company LLC has finalised the sale to Grand Astor Limited of Chevron Phillips Chemical’s affiliate company Chevron Phillips Chemical (China) Co. Ltd., which owns a polystyrene plant located in Zhangjiagang, China. As the polystyrene plant is a productive and valued asset, but as a standalone operation for Chevron Phillips Chemical in China, the company has determined the asset is not a strategic fit. Chevron Phillips Chemical will maintain its long, committed presence in China and the Asia region through both local and regional manufacturing as well as its extensive marketing network, which provides value-added products to the region including polyethylene, polypropylene, alpha olefins, specialty chemicals, aromatics, engineering polymers and www.cpchem.com