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Business

Axiall To Divest Phosgene Business

by Marc S. Reisch
March 2, 2015 | APPEARED IN VOLUME 93, ISSUE 9

Axiall has agreed to sell its phosgene derivatives assets to Altivia Chemicals for an undisclosed sum. Axiall calls its La Porte, Texas, facility the largest North American merchant maker of the derivatives, which include chloroformates and acid chlorides. The unit employs 120 people. Separately, Axiall told investors that it has postponed a decision to build an ethylene cracker in Louisiana with South Korean partner Lotte because of energy market turmoil. The firm also said it is seeking government approval to create a chlor-alkali master limited partnership. Such partnerships, which provide tax advantages, are widely used in the energy and olefins industries but not yet in chlor-alkali.

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