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Occidental Petroleum

OCCIDENTAL PETROLEUM (NYSE: OXY) is a developer of crude oil and natural gas.

Website: http://www.oxy.com/Pages/Home.aspx

Expanded Definition

Occidental Chemical Corporation (OxyChem) is a leading North American manufacturer of polyvinyl chloride (PVC) resins, chlorine and caustic soda – key building blocks for a variety of indispensable products such as plastics, pharmaceuticals and water treatment chemicals. Other OxyChem products include caustic potash, chlorinated organics, sodium silicates, chlorinated isocyanurates and calcium chloride. For every product it markets in the U.S., OxyChem’s market position is No. 1 or No. 2. Based in Dallas, Texas, the company has manufacturing facilities in the United States, Canada and Latin America.

Armand Products Company, a joint venture between OxyChem and Church & Dwight Co., Inc., sells potassium carbonate and potassium bicarbonate.

Occidental also has a chemical division best known as the owner of Hooker Chemical Co., which became associated with the Love Canal incident. Hooker was an early producer of chlor-alkali. According to C&EN Occidental now ranks second behind Dow Chemical in that business.

In 2015, Dow announced the sale of its chlor-alkali business (including vinyl, chlorinated organics and epoxy resins) to Olin for a combination of cash and stock. Olin will be come the largest chlor-alkali producer. Dow shareholders will receive Olin stock, and Dow will own 50.5% of Olin and have three seats on its board of directors.

For more about Hooker, see “Salt & Water, Power & People: A Short History of Hooker Electrochemical Co.,” by Robert E. Thomas, Hooker Chemical Co., Niagara Falls, NY, 1955. It is reviewed on Motley Fool's Books Non-fiction board here: http://boards.fool.com/hooker-chemical-company-29250894.aspx

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