Volume 86 Issue 50 | p. 16 | Concentrates
Issue Date: December 15, 2008

Shin-Etsu Takes Over Portuguese Affiliate

Department: Business

Shin-Etsu Chemical has begun to take full ownership of Cires, a Portuguese producer of polyvinyl chloride in which Shin-Etsu, Ineos, and Mitsui & Co. each own a 26% stake. Ineos has agreed to sell its stake to Shin-Etsu. Once Shin-Etsu's stake in Cires rises to 52%, it expects to issue a public offer for the company's remaining shares. With annual PVC capacity of 200,000 metric tons, Cires recorded sales of $230 million last year. Shin-Etsu is the world's largest producer of PVC.

 
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