Americas Styrenics LLC Begins Operations

Fri May 2, 2008 10:56am EDT

* Reuters is not responsible for the content in this press release.

THE WOODLANDS, Texas, May 2 /PRNewswire-FirstCall/ -- Americas Styrenics
LLC (Americas Styrenics), the joint venture between The Dow Chemical Company
(NYSE: DOW) and Chevron Phillips Chemical Company LP, announced today it began
operations on May 1, 2008. The new company has the largest polystyrene
capacity in the Western Hemisphere.
    "Americas Styrenics is positioned as a market leader from day one, and as
such, we intend to uphold the manufacturing standards and valued customer
reputations of our parent companies, while continuously pursuing growth in the
market," said Tim Roberts, president and CEO of Americas Styrenics. "Our focus
on polystyrene and styrene will allow us to leverage key synergies to expand
our business opportunities."
    The new company will be headquartered in Houston, Texas. Americas
Styrenics will build on the wealth of manufacturing, commercial and
technological expertise of its parent companies to be the market leader in the
Americas.
    To form Americas Styrenics, Dow will contribute six polystyrene plants:
Torrance, California; Gales Ferry, Connecticut; Ironton, Ohio; Joliet,
Illinois; Guaruja, Brazil and Cartagena, Colombia. Chevron Phillips Chemical
will contribute a styrene monomer plant in St. James, Louisiana and a
polystyrene plant in Marietta, Ohio.
    About Americas Styrenics LLC
Americas Styrenics is a leading integrated producer of polystyrene and styrene
monomer, offering solutions and services to customers in a variety of markets
throughout the Americas. It is a joint venture equally owned by The Dow
Chemical Company and Chevron Phillips Chemical Company LP.
    About Dow
    With annual sales of $54 billion and 46,000 employees worldwide, Dow is a
diversified chemical company that combines the power of science and technology
with the "Human Element" to constantly improve what is essential to human
progress. The Company delivers a broad range of products and services to
customers in around 160 countries, connecting chemistry and innovation with
the principles of sustainability to help provide everything from fresh water,
food and pharmaceuticals to paints, packaging and personal care products.
References to "Dow" or the "Company" mean The Dow Chemical Company and its
consolidated subsidiaries unless otherwise expressly noted. More information
about Dow can be found at www.dow.com.
    About Chevron Phillips Chemical Company LP
    Chevron Phillips Chemical Company LP is a wholly-owned subsidiary of
Chevron Phillips Chemical Company LLC, one of the world's top producers of
olefins and polyolefins and a leading supplier of aromatics, alpha olefins,
styrenics, specialty chemicals, plastic piping and polymer resins. The LLC and
its affiliates own over $7 billion in assets, generate over $12 billion in
annual revenue and employ over 5,300 people at 37 manufacturing and research
facilities, located in seven countries. Chevron Phillips Chemical Company LLC
is equally owned by Chevron Corporation and ConocoPhillips, and is
headquartered in The Woodlands, Texas. For more information about Chevron
Phillips Chemical, visit www.cpchem.com.
SOURCE  Americas Styrenics LLC

Brian Cain of Americas Styrenics LLC, +1-832-813-4316, cainb@cpchem.com
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