Occidental Chemical Announces Plans to Exit Intermediates Business
DALLAS – Occidental Chemical Corp. (Oxychem) announced plans to withdraw from the chemical-intermediates business and said it will immediately begin shutting down its primary intermediates production facility at Niagara Falls, NY, and phasing out product-development efforts at the nearby Grand Island Technology Center.
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.