US Westlake closes $175m purchase of CertainTeed's PVC-pipe unit

01 May 2013 22:27  [Source: ICIS news]

HOUSTON (ICIS)--US-based Westlake Chemical said on Wednesday that it has closed on the $175m (€133m) deal to acquire CertainTeed’s pipe and foundation group, which will operate under the name of North American Specialty Products.

Announced in March, the acquisition includes the polyvinyl chloride (PVC) pipe, fittings, profiles and foundation businesses.

Westlake will also acquire the associated facilities in California and Kansas with production capacity of about 150m lb/year (68,000 tonnes/year), as well as the technologies and intellectual properties for the production of a number of specialised products.

North American Specialty Products will provide specialty PVC pipe, fittings and foundation for building products, agricultural, mining, municipal and other industrial markets.

($1 = €0.76)

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By: Tracy Dang
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