Issue Date: August 1, 2011
Tessenderlo Sells U.S. Vinyls Unit
Belgian chemical firm Tessenderlo has sold its Chelsea Building Products subsidiary to the private equity firm Graham Partners. A maker of polyvinyl chloride windows and doors, Chelsea generated about $50 million in sales last year. Albert Vasseur, Tessenderlo’s director of plastics converting, says Chelsea rebounded strongly from the economic crisis but is not a market leader. Tessenderlo runs a larger building products business in Europe. Separately, the European Commission has approved the sale of Tessenderlo’s PVC and chlorine business to Ineos’ Kerling unit.
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