North American PVC producer acquires Vinnolit/ Latest consolidation in the global PVC market

摘要

US ethylene and PVC producer Westlake Chemical (Houston, Texas; www.westlake.com) appears to have been searching for an investment outlet for its shale gas profits. The company recently announced that it is buying German PVC producer Vinnolit (Ismaning; www.vinnolit.de) from Advent International for EUR 490m. The transaction still has to meet regulatory approval and is expected to be completed by Q3 this year. Westlake CEO Albert Chao called the acquisition "an excellent strategic fit", adding that, "It will allow us to expand our chlorvinyl business globally and adds important specialty PVC products and technology to our existing portfolio."