Chevron Phillips, Sumitomo venture to shut down Texas polypropylene unit
Chevron Phillips Chemical (CPChem) has reached an agreement with partner Sumitomo Chemical Co. to permanently shut down polypropylene assets jointly owned by the Phillips Sumika Polypropylene Co. (PSPC) venture in Pasadena, Texas.
All other operations at the Chevron Phillips Chemical plastics complex in Pasadena are unaffected by the closing of the PSPC polypropylene plant at that facility, the company said.
"The company remains focused on running our operation safely for our employees and the community in which we operate,” said Tim Taylor, chief operating officer for Chevron Phillips Chemical.
“We are assessing the impact to employees affected by this closing and will work to redeploy as many as possible in other parts of our organization," he added.
The companies did not specify a reason for the closing. Capacity details for the plant were not disclosed.
Chevron Phillips Chemical remains committed to the polypropylene business, and its network of marketing affiliates will market polypropylene produced by the Saudi Polymers Company (SPCo) joint venture scheduled to start up during the second half of 2011, it said.
SPCo is a limited liability company owned by Arabian Chevron Phillips Petrochemical Co. and National Petrochemical Company (Petrochem).
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