Business Liquidation Phillips Sumika Business Liquidation
Phillips Sumika, a joint operation of Phillip Chevoron and Sumika Polymers, faces the liquidation of its business. Production facilities in Pasadena will be shut down by the end of the year.
The Woodlands/Texas – Phillips Sumika ceases to be. Both partners in this joint operation, Chevron Phillips and Sumika Polymers America, agreed to wind up all Phillips Sumika business until the end of 2011. Existing production facilities at Pasadena, Texas, will be shut down.
According to company officials, Phillips Sumika will assist its customers during the transition period, trying to make the process "as smooth as possible". This business liquidation, after nearly 19 years on the polypropylene market, will see an end olf all production activities by late 2011.