Washington Penn to purchase assets of ExxonMobil's specialty PP compounding business
Mary Page Bailey
Washington Penn Plastic Co., Inc. (Washington, Pa; www.washingtonpennplastic.com) has concluded an agreement with ExxonMobil Chemical Company (EMC; Houston, Tex.; www.exxonmobilchemical.com) to purchase and license assets of EMC’s North American specialty compounded polypropylene (PP) products business, following EMC’s decision to cease production of those products in North America. This agreement will facilitate the transition of the impacted customers to Washington Penn.
“We are very excited about this agreement and we look forward to working closely with the customers. The product technologies are very complimentary, and offer some exciting new opportunities to support the needs of our customers,” said Martin Devine, president of Washington Penn.