Chevron Phillips Chemical has successfully completed the
acquisition of a polyalphaolefin (PAO) plant located in
Beringen, Belgium from Neste Oil.
By closing this transaction we have created a unique
position for Chevron Phillips Chemical Company, said
Dennis Holtermann, general manager of normal alpha olefins and
polyalphaolefins for Chevron Phillips Chemical (CPChem).
The addition of this plant to our existing production
capabilities enables us to better service the growing demand
for PAOs that are used in high performance lubricants and other
applications, he added.
The deal was first announced in September.
Chevron Phillips Chemical is the 50:50 joint venture of Chevron