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PetroChem Wire's Daily Wire provides closing prices and a summary of the day's trading activity for US ethylene, proylene, polymers and upstream NGLs markets. Begun in 2007, its olefins and polyolefins prices serve as benchmarks for a number of physical and swap contracts that trade on the CME/NYMEX Clearport system.

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Nexeo Solutions sells plastics distribution business

HOUSTON, February 8, 2019 -- Nexeo Solutions' plastics distribution business will be spun off into a stand-alone company following the acquisition of Nexeo Solutions by Univar, the companies announced today.

Private equity firm One Rock Capital Partners agreed to purchase the business for $640 million, subject to customary closing adjustments.

The transaction is expected to close in 1H 2019, after the completion of Univar's acquisition of Nexeo.

Shawn Williams, currently executive vice president of Nexeo Plastics, will continue to lead the business.

Nexeo's plastics sales in 2018 totaled $1.98 billion, 49% of total revenue. -- David Barry

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