By the OGJ Online Staff
HOUSTON, July 31 -- Solutia Inc., St. Louis, Mo., and JLM Industries Inc., Tampa, Fla., agreed to end an agreement to build a benzene-to-phenol plant at Solutia's Pensacola, Fla., facility.
The companies agreed to terminate the planned project because of "current dynamics in the global market for phenol." They plan to pursue separate strategies in the phenol market.
The site would have used a Solutia proprietary technology.
"Solutia started up a new phenol to [ketane alcohol] oil facility at Pensacola earlier this year," said Mike Berezo, director of Nylon Intermediates at Solutia.
"And we may certainly decide to explore benzene to phenol production in the future, should the market dynamics change."
John Macdonald, chairman and CEO of JLM Industries, said the company concurs with the decision and is pleased with its other commercial relationships with Solutia.