Braskem, Mexichem Eye Solvay Indupa

Braskem and Mexichem appear to be vying for Solvay’s controlling interest in Solvay Indupa, the South American polyvinyl chloride business Solvay put on the block in February. Braskem, the only other PVC maker in Brazil, recently warned shareholders that although it was participating in the bidding process, there are “no concrete, even if preliminary, results so far.” Earlier, Mexichem, a Mexican chemical maker that has grown through fluorochemical and PVC-related acquisitions, disclosed that it made an offer for the “PVC operations of a company in Argentina and Brazil.” That could only mean Indupa, which runs PVC plants in both countries.