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Markets :: Basic Chemicals :: Petrochemicals :: Vinyl acetate

Wacker to Buy Out Air Products in Polymer Joint Ventures

11:12 AM MST | December 19, 2007 | Nancy Seewald

Wacker-Chemie says it has agreed to acquire the shares it does not already own in two vinyl acetate ethylene-based emulsion polymer joint ventures with Air Products, for approximately $265 million. Air Products announced its intention to sell its shares in March 2006 as part of an effort to shed lower-margin chemical businesses (CW, March 29, 2006, p. 6). Wacker currently holds a 35% stake in a U.S.-based jv, and an 80% stake in a European jv. The deal is expected to close by the end of the first quarter of 2008, pending regulatory approval. The deal includes...

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