Dec 2 2014
Mexichem, S.A.B. de C.V. (“the Company” or “Mexichem”) announced that today it completed the acquisition of VESTOLIT GmbH (Vesto PVC Holding GmbH, “VESTOLIT”).
Mexichem completed the acquisition after receiving all relevant regulatory approvals. VESTOLIT was acquired from funds managed by Strategic Value Partners LLC for a total purchase price of 219 million euros in cash and assumed liabilities. As of today, December 1, 2014, VESTOLIT will be consolidated under Mexichem’s Chlorine-Vinyl chain for accounting purposes.
Based in Marl, Germany, VESTOLIT is Europe’s only manufacturer of High Impact Suspension PVC (HIS-PVC) for weather-resistant windows and is Europe’s second-largest producer of paste PVC for floors and wallpapers. VESTOLIT also produces alkyl-chlorides, a value-added intermediary used for a variety of chemical and industrial applications and is vertically integrated in a single site from Salt through Specialty PVC. Total installed PVC capacity is 415,000 tons per year.
Mexichem views this transaction as an opportunity to expand its European footprint, enter a new market segment and acquire new technology and best practices.
VESTOLIT will continue to operate under its current management and with its existing portfolio of branded products.
About Mexichem
Mexichem is a global specialty chemicals company, producing the raw materials for key products used in infrastructure, housing, drinking water and other vital industries. Our customers are spread across more than 50 countries and they rely on our efficient, market-leading production to meet their needs. Currently, the group operates under three major production chains: Chlorine-Vinyl, Fluorine and Integral Solutions. The Company has annual revenues of more than US$5 billion and has been listed on the Mexican Stock Exchange for more than 30 years.
Source: http://www.mexichem.com