ALTIVIA Petrochemicals on Friday completed the acquisition of the Haverhill Chemical assets, which produce phenol, acetone, alpha-methylstyrene (AMS) and bisphenol-A (BPA). 

Located on the banks of the Ohio River in Haverhill, Ohio, the assets were formerly operated by Sunoco. ALTIVIA has been preparing the facilities for start up over the past several weeks and the plant will resume operations immediately. 

Product shipments are expected to begin on November 16.

The Haverhill facility is the third largest producer of merchant phenol and acetone in the Americas, after Ineos and Shell. Phenol and acetone are petrochemical intermediates utilized in the production of phenolic resins, epoxies, polycarbonates, paints and coatings, pharmaceuticals, acrylics, and heat resistant polymers.

"This has been a challenging transaction to complete, however, the outlook for the business is strong," said J. Michael Jusbasche, CEO of ALTIVIA.

"ALTIVIA is entering this market at a very competitive price and at a low point in the aromatics cycle, enabling it to compete effectively with Gulf Coast producers," he added. "With the renewed operation of the plant, ALTIVIA will also restore over 100 jobs in southeastern Ohio."

Investment terms were not disclosed.