HAVERHILL, Ohio (WSAZ) -- A Texas company says it has completed its purchase of Haverhill Chemical in Scioto County, Ohio.
In September, ALTIVIA Petrochemicals, located in Houston, announced it was buying the company.
Haverhill Chemicals announced in June that it was suspending operations and looking for solutions to resume business. The company filed for Chapter 11 bankruptcy protection. About 165 employees were affected by the suspended operations.
According to a news release, 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.
"This has been a challenging transaction to complete, however, the outlook for the business is strong. 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. With the renewed operation of the plant, ALTIVIA will also restore over 100 jobs in south eastern Ohio," said J. Michael Jusbasche, Chief Executive Officer of ALTIVIA.
There is no word on how many of the former Haverhill employees will work for the new company.
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.
ALTIVIA produces water treatment chemicals, according to an earlier news release.
UPDATE 9/21/15 @ 11:45 p.m.
HAVERHILL, Ohio (WSAZ) -- Haverhill Chemicals will sell its assets to a petrochemical company in Texas, according to a news release from the company.
ALTIVIA Petrochemicals, located in Houston, operates facilities that produce water treatment chemicals, according to the release issued Monday.
Haverhill Chemicals announced in June that it was suspending operations and looking for solutions to resume business. The company had filed for Chapter 11 bankruptcy protection.
About 165 employees were affected by the suspended operations.
The sale to ALTIVIA Petrochemicals is subject to approval from the bankruptcy court.
UPDATE 6/15/15 @ 3:30 p.m.
HAVERHILL, Ohio (WSAZ) – There is new information Monday about the future of Haverhill Chemicals.
On Friday, Tom Wells, vice president at Goradia Capital, said in an email to the media that the Haverhill plant would be suspending operations while seeking a solution to keep the plant open.
In a separate letter sent to Scioto County Commissioner Mike Crabtree from Bobby Thornsbury, human resources manager at Haverhill Chemicals, the company said the plant would officially close this August. That letter was dated Friday.
“These actions are expected to be permanent and the entire facility will close,” said Thornsbury..
In the letter, Haverhill Chemicals said it will begin laying off 164 employees on Aug. 10. None of the employees being laid off are represented by a union.
According to the letter, the closing will take about 14 days.
There was an informational meeting for employees at the plant Monday afternoon. There will be another informational meeting Tuesday night at 6:30.
The closure comes after Haverhill Chemicals announced last week they would be suspending operations while continuing talks about the future of the plant. The company says that since they purchased the company from Sunoco in 2012, they have incurred tens of millions of dollars in unexpected, but necessary, expenses.
UPDATE 6/12/15 @ 12:25 p.m.
HAVERHILL, Ohio (WSAZ) -- Haverhill Chemicals announced Friday their plans to suspend operations effective immediately at the Haverhill, Ohio plant.
In a release, the company said since acquiring the plant three years ago from Sunoco, they have incurred tens of millions of dollars in unbudgeted and unanticipated expenses. Company officials say those expenses were required to improve the condition and reliability of the plant.
According to the release, that unexpected investment of time and capital made operations unsustainable.
During the shut down phase, the company says they will be seeking a solution that may allow the plant to resume operations.
No other information has been released at this time.
UPDATE 6/11/15 @ 1:40 p.m.
HAVERHILL, Ohio (WSAZ) -- An announcement is expected to be made any time in regards to the state of affairs at Haverhill Chemicals.
Tom Wells, vice president of the Haverhill facility, says a decision on the future of the plant has not been made at this time, and they are still working some things out.
He says they had hoped to make the announcement Wednesday, but didn't get everything done and hope to make it Thursday.
Wells says no Haverhill Chemical employees have been laid off.
Mark Johnson, with Tristate Building Trades Union, tells WSAZ at least 64 contractors,who are not Haverhill employees, have been recently laid off from the Haverhill plant. He says those contractors provided maintenance at the facility. He also says 11 have been kept on in case the plant would shut down, so they could help with the closure.
We have a crew continuing to work on this story. Keep clicking on WSAZ Mobile and WSAZ.com for the latest on this story.
ORIGINAL STORY 6/101/5
HAVERHILL, Ohio (WSAZ) -- According to the latest reports, a Haverhill spokesperson says discussions regarding the future of the Haverhill Chemicals Plant in Scioto County are still on-going, and any decision on whether or not to close the plant has yet to be made.
There has been a great deal of speculation of layoffs at the plant. A closure of the facility appeared inevitable after several published reports Tuesday of production being discontinued sometime in July. However, WSAZ has now learned that information was sent out in a press release by a Haverhill employee who was not authorized to release the information, according to a ICIS.com reporter who was the first to break this story. According to a Haverhill spokesperson, closing the plant remains an option.
WSAZ has repeatedly tried to contact Haverhill officials, both at the plant and in Houston, Texas, where the company is based. However, our calls have not been returned, and officials at the plant would only say "no comment."