Occidental Chemical Announces Plans to Exit Intermediates Business
The company’s Chemical Intermediates business includes a range of industrial and agricultural products, including VOC-exempt Oxsol solvents for paint and coatings. The company said it will seek buyers for the main intermediates plant and several related businesses and assets, and that discussions related to a possible sale are under way.
Occidental Chemical President and CEO J. Roger Hirl said the action is the result of an analysis which concluded that "chemical intermediates no longer meet our strategic objectives. They are better suited to companies that are already firmly established in these businesses."