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Altivia inks MoU to acquire Haverhill Chemicals assets for Phenol, Acetone.

September 29/2015

MOSCOW (MRC) -- Altivia Petrochemicals has signed a definitive agreement to acquire all of Haverhill Chemicals' assets for their Phenol, Acetone, Alpha-Methylstyrene (AMS) and BisPhenol-A (BPA) businesses, said the producer at its press release.

The facilities are located on the banks of the Ohio River in Haverhill, Ohio, formerly operated by Sunoco. Haverhill Chemicals filed for relief under Chapter 11 of the U.S. Bankruptcy Code on September 19. Closing of this transaction, which is subject to approval by the Bankruptcy Court, is expected in October.

The chemicals produced at the Haverhill facilities are intermediates utilized in the production of phenolic resins, epoxies, polycarbonates, paints and coatings, pharmaceuticals, acrylics, and heat resistant polymers.

According to ALTIVIA, entering this business will provide the company opportunities to participate in commodity products controlled by global players. The business' location provides a geographical advantage to the supply chain of its robust customer base.

As MRC informed earlier, Axiall has signed a definitive agreement to sell its La Porte, Texas, chemical manufacturing facility to Altivia Chemicals. Financial terms of the agreement, which is subject to customary closing processes, were not announced.

Headquartered in Houston, Texas, privately held ALTIVIA was founded in 1986 and today is the largest merchant producer of Phosgene derivative intermediates in the Americas. ALTIVIA is also a producer of iron-based salts serving municipal and industrial customers with a broad range of chemical solutions, including products formulated for specific water treatment applications.  ALTIVIA sold its water treatment commodity chemicals business to Brenntag A.G. in December 2012 and in April 2015 acquired the Specialty Phosgene Derivatives business' assets from Axiall Corporation. The transaction included Axiall's chemical production facilities located in La Porte, Texas. The plant is the largest North American production facility of merchant phosgene derivatives, including chloroformates and acid chlorides, serving pharmaceutical, organic peroxide and agricultural markets.


mrcplast.com
Author:Anna Larionova
Tags:acetone, bisphenol A, phenol, USA.
Category:General News
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