HOUSTON, August 8, 2002 – Lyondell Chemical Company (NYSE:LYO) today announced the addition of a new product line — POLYMEG® PTMEG (polytetramethylene ether glycols) polyols — and an increase in THF (tetrahydrofuran) capacity.
These products, previously supplied by Penn Specialty Chemicals, Inc., complement Lyondell’s existing portfolio and offer customers a reliable, high-quality and independent source for PTMEG. Moreover, the move strengthens Lyondell’s position in the growing THF business.
PTMEG, manufactured through the polymerization of THF, is used in the production of spandex and urethanes. THF is a versatile solvent used in the production of PVC pipe cement, pharmaceuticals, coatings and other applications.
As a leading global chemical supplier to a variety of markets, Lyondell is eager to extend its sales capabilities and customer support services by making these products available to customers on a worldwide basis.
Penn Specialty Chemicals will continue to manufacture these products exclusively for Lyondell. In turn, Lyondell will supply Penn with 1,4-butanediol (BDO) — a key feedstock for both THF and PTMEG — from its global BDO system, which includes a new 275 million pound/year plant currently in the start-up phase in The Netherlands.
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