Chevron Phillips Chemical completes acquisition of Neste PAO Plant in Belgium

Chevron Phillips Chemical International NV, a wholly owned subsidiary of Chevron Phillips Chemical Company LLC, announced that it has successfully completed the acquisition of a polyalphaolefin (PAO) plant located in Beringen, Belgium, from Neste Oil, NV, an indirect wholly owned subsidiary of Neste Oil Corporation. “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. “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 said. (December 1, 2011)