Americas Styrenics will build on the existing manufacturing, commercial and technological expertise of its parent companies. Dow will contribute its six polystyrene plants, and Chevron Phillips will contribute its polystyrene plant in Marietta and its styrene monomer plant in St. James, La.
"Americas Styrenics is positioned as a market leader from day one, and as such, we intend to uphold the manufacturing standards and valued customer reputations of our parent companies, while continuously pursuing growth in the market," said Americas Styrenics president and CEO Tim Roberts.
The joint company, based in Houston, Texas, claims to have the largest polystyrene capacity in the Western Hemisphere, producing a variety of polystyrene resins. It also is the second-largest producer of styrene in the Americas.
"It's kind of interesting, because Chevron Phillips is (already) a joint venture. So it's a joint venture entering into a joint venture. Dow owns 50 percent, and Chevron Phillips owns 50 percent," said Rosemarie Rung, public affairs leader for Dow Chemical.
She said half of the facility in Hanging Rock would remain Dow Chemical, while the other half produces polystyrene specifically for Americas Styrenics. No jobs will be lost or added, she said.
"It's making the operations in Hanging Rock more secure, because it's going to be a more stable presence in the market than either company could be alone," Rung said.
RYAN SCOTT OTTNEY can be reached at (740) 353-3101, ext. 235.