Koch, Blackstone to bid for GE Plastics - Reuters

06 March 2007 22:40  [Source: ICIS news]

HOUSTON (ICIS news)--Koch plans to team up with Blackstone Group to bid for GE Plastics, according to sources, Reuters reported on Tuesday.

The report followed speculation that other companies such as Dow Chemical, BASF and SABIC were also eyeing the unit for possible acquisition.

General Electric (GE) confirmed in January that it planned to dispose of its plastics business in the second half of 2007 amid concerns over a decline in the unit’s profitability.

Koch and GE did not immediately return phone calls to comment on the report.

By: Mark Quiner
+1 713 525 2653

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