Geon, OxyChem sign agreement to form joint venture.(Geon Co., Occidental Chemical Corp.)(Brief Article)

Cleveland-- The Geon Company announced signing of a definitive agreement with Occidental Chemical Corporation (OxyChem), a subsidiary of Occidental Petroleum Corporation, to implement their proposed joint ventures and to transfer certain businesses to Geon.

The two companies' previously announced letter of intent would create a polyvinyl chloride resin and vinyl chloride monomer joint venture owned 24 percent by Geon and 76 percent by OxyChem. The joint venture, which will be known as Oxy Vinyls, LP, will combine Geon's PVC mass/suspension resin and …