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Business
PolyOne Unloads OxyVinyls Stake
July 16, 2007
| A version of this story appeared in
Volume 85, Issue 29
Plastics compounding company PolyOne has sold its 24% stake in OxyVinyls to its partner, Occidental Chemical, for $261 million in cash. With the transaction, OxyChem will become the sole owner of the second-largest polyvinyl chloride resins business in North America. PolyOne will retain PVC supply agreements with OxyVinyls that are set to expire in 2024. It will also acquire OxyChem's 10% interest in a PVC powder blends joint venture. OxyChem and PolyOne predecessor Geon formed the OxyVinyls joint venture in 1999.
The power is now in your (nitrile gloved) hands
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