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Solvay Buys Chevron Phillips Car-Plastics Unit for $220 Million

Solvay SA agreed to buy a performance polymers business from Chevron Phillips Chemical Co. for $220 million to expand its offering of lightweight plastics for replacing heavier metal parts in cars.

The purchase of Ryton polyphenylene sulphide plants will also increase Solvay’s exposure to the electronic-materials industry, where polymers are used to enhance the fire-resistance of components, Brussels-based Solvay said today in a statement.