HAVERHILL—Haverhill Chemicals, LLC announced that it has reached an agreement to sell its assets to ALTIVIA Petrochemicals, LLC of Houston. ALTIVIA operates facilities producing water treatment chemicals and its phosgene derivatives’ business acquired from Axial earlier this year.

Haverhill had announced on June 10, that it was suspending operations and would seek a solution to allow the plant to resume operations. ALTIVIA is expected to resume operations once the sale is final.

In order to implement the sale to ALTIVIA, Haverhill announced that it was filing for relief under the Chapter 11 of the United States Bankruptcy Court for the Southern District of Houston. The sale will be subject to approval of the bankruptcy court. Haverhill engaged Balmboral Advisors to advise on the transaction.