"The company is in the early stages of the process and expects to have preliminary discussions with potential buyers in the coming weeks," said Jacob Reint, public affairs director with Flint Hills Resources.
Flint Hills Resources, the third largest EPS producer in the US, purchased the Peru facility from Huntsman in 2007.
The company did not say whether it planned to close the facility if it could not find a buyer.
It was unclear who would be interested in buying the facility, particularly with routine complaints from suppliers about slim profit margins for EPS, sources said.
A source in the financial community said it expected other US competitors would be the only interested buyers.
One EPS buyer suggested it is possible a competitor could purchase the facility with plans to shut it down.
"That would be a pretty big hit," the buyer said.
Other major US EPS producers are BASF, NOVA Chemicals, Styrochem and Nexkemia.
