Axiall Comments about China Petrochemical Development

ATLANTA--(BUSINESS WIRE)--In response to press reports, Axiall Corporation (NYSE: AXLL) today confirmed that the company has received notice from China Petrochemical Development Corp. ("CPD") that CPD has exercised an option to sell to Axiall CPD's 40 percent interest in Taiwan Chlorine Industries, Ltd. (“TCI”) for $100 million. Under an agreement that was established when PPG Industries, Inc. ("PPG") separated its commodity chemicals business and merged it with a subsidiary of Georgia Gulf to form Axiall, Axiall has the contractual option to have PPG rather than Axiall acquire CPD's 40 percent interest in TCI. Axiall is assessing the matter.