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Business

Axiall to sell two vinyl units

by Marc S. Reisch
March 7, 2016 | APPEARED IN VOLUME 94, ISSUE 10

As it reported a net loss of $816 million for 2015, Axiall revealed deals to sell two “noncore” vinyl-related businesses for a total of $41 million. The firm, which is fighting a $2.9 billion takeover bid from rival Westlake Chemical, says the sales are “part of an effort to reduce costs, improve productivity, and optimize our portfolio.” Axiall will sell its Solucor compound additives business to Galata Chemicals. About 60 employees are involved. Axiall is also selling its window and door profiles business to OpenGate Capital.

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