Flint Hills Resources to acquire BP performance chemicals unit assets

Subsidiaries of Flint Hills Resources LLC, Wichita, Kan., have agreed to acquire the assets of BP's global performance chemicals business unit.

April 1, 2004

By OGJ editors

HOUSTON, Apr. 1 -- Subsidiaries of Flint Hills Resources LLC, Wichita, Kan., have agreed to acquire the assets of BP's global performance chemicals business unit. Terms of the agreement were not disclosed. Flint Hills is a unit of Koch Industries Inc.

Assets in the deal include a production facility in Joliet, Ill., the production from a Geel, Belgium, plant that BP will continue to operate, and associated research and marketing capabilities.

The transaction, pending regulatory approvals and other conditions, is expected to be complete in the second quarter.