Flint Hills Resources Acquires BP Chemical Assets
The purchase includes a production facility in Joliet, IL, that manufactures purified isophthalic acid, maleic anhydride and trimellitic anhydride. The products' applications include polyester resins and coatings. Terms of the purchase were not disclosed.
Also part of the acquisition is a long-term agreement for purified isophthalic acid production from a European plant that BP will continue to operate. Flint Hills Resources also acquired research and marketing capabilities associated with the performance chemicals business.