US Westlake purchasing CertainTeed group’s PVC operations
06 March 2013 22:50 [Source: ICIS news]
HOUSTON (ICIS)--Westlake Chemical has agreed to purchase CertainTeed’s Pipe and Foundation Group (PFG), a leading producer of polyvinyl chloride (PVC) pipe and fittings for municipal, water well, mining, agriculture and irrigation applications, Westlake announced on Wednesday.
The deal is worth $175m (€135m), including $22m of working capital, with closing adjustments, and the transaction should close in the Q2 2013, ?xml:namespace>Westlake said in a press release.
The acquisition includes PFG’s PVC pipe, fittings, profiles and foundations business and associated operating facilities in Lodi, California, and McPherson, Kansas, with production capacity of 150m lbs/year, Westlake said.
The US company also will also acquire technologies and intellectual properties for the production of a number of specialized products, including Certa-Lok restrained joint pipe and Yelomine-branded products for a variety of end market applications, Westlake said.
CertainTeed is a subsidiary of French construction material producer Compagnie de Saint-Gobain.
Headquartered in Houston, Westlake’s range of products includes ethylene, polyethylene (PE), styrene, propylene, caustic soda, vinyl chloride monomer (VCM), PVC resin and PVC building products.
($1 = €0.77)By: Jeremy Pafford+1 713 525 2653
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