ISP Acquires BP Amoco BDO Operation
Thursday March 17, 8:34 am ET
WAYNE, N.J., March 17 /PRNewswire/ -- International Specialty Products Inc. ("ISP") today announced that, through one of its subsidiaries, it has acquired the 1,4-butanediol (BDO) operations of BP Amoco Chemical Company, an indirect subsidiary of BP plc. As part of this acquisition, ISP acquired BP's world-class BDO production facility located within BP's Lima, Ohio petrochemicals complex. The Lima BDO plant has a nameplate annual capacity of 60,000 metric tons of butanediol. BDO is a key building block for many of the core Specialty Chemicals products that ISP markets for pharmaceutical, personal care, food, beverage, coatings, oil field and other market applications. BP will continue to produce other petrochemicals at the Lima complex.
This acquisition will play a pivotal role in ensuring ISP a high quality supply of a key raw material to help keep pace with the increasing demand for ISP's Specialty Chemicals products, as well as expanding ISP's presence for BDO in merchant markets. ISP intends to continue supplying those customers who are currently purchasing product from the Lima facility with high levels of service and product quality.
Sunil Kumar, ISP's President and Chief Executive Officer, commenting on the acquisition stated, "The Lima BDO operation is highly strategic to ISP's Specialty Chemicals business and will better enable ISP to meet our customers' increasing demands for high-quality, value-added specialty chemicals. We welcome the employees, customers and suppliers of this business into the ISP family."
International Specialty Products (ISP) is a leading global supplier of specialty chemicals and performance-enhancing products for a wide variety of personal care, pharmaceutical, food, beverage and industrial applications. ISP produces more than 400 specialty chemicals, which it markets and sells worldwide. The company's headquarters is located in Wayne, New Jersey, USA.
This press release may contain "forward-looking" statements within the meaning of the federal securities laws and, as such, concerns matters that are not historical facts. These statements are subject to risks and uncertainties that could cause the actual results to differ materially from those expressed in such statements. Important factors that could cause such differences are discussed in filings made by ISP Chemco Inc., a subsidiary of International Specialty Products Inc., with the U.S. Securities and Exchange Commission and are incorporated herein by reference.
International Specialty Products Inc.
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