Issue Date: January 6, 2014
OpenGate Capital And Partner Buy Distressed French Vinyls Maker Kem One
A French court has approved the sale of the vinyls maker Kem One to a pair of private investors. The deal will preserve Europe’s third-largest producer of chlorine and polyvinyl chloride, but it doesn’t address overcapacity in the region’s vinyl industry.
Eight groups bid for Kem One, which has been in bankruptcy reorganization since March 2013. One bid came from French labor union CGT in an effort to save jobs. . . .
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