Issue Date: December 15, 2008
Shin-Etsu Takes Over Portuguese Affiliate
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.
- Chemical & Engineering News
- ISSN 0009-2347
- Copyright © American Chemical Society