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Business
Mexichem Will Buy Germany’s Vestolit
by Alexander H. Tullo
August 11, 2014
| A version of this story appeared in
Volume 92, Issue 32
Mexichem has agreed to purchase the German polyvinyl chloride maker Vestolit from Strategic Value Partners, a private equity firm, for cash and debt totaling $290 million. Vestolit, which Mexichem calls Europe’s sixth-largest PVC maker, specializes in PVC paste for flooring and wallpaper as well as PVC for weather-resistant windows. The Mexican firm says the purchase is in keeping with its strategy of becoming a global chemical producer. The deal continues consolidation in Europe’s vinyl industry. Last month, Westlake Chemical said it will purchase Vinnolit. And in June, Solvay and Ineos agreed to terms of a PVC joint venture.
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