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Shin-Etsu Completes Takeover of PVC Firm in Portugal

2:22 AM MDT | August 17, 2009 | Deepti Ramesh

Shin-Etsu Chemical says it has completed the previously announced takeover of its polyvinyl chloride (PVC) affiliate Cires (Estarreja, Portugal). Shin-Etsu announced in December 2008, its plan to increase its stake in Cires from 26.07%, to 100%, by buying the stakes of its partners. Shin-Etsu completed the procedures required to make Cires a wholly-owned subsidiary on August 14, 2009. Shin-Etsu says that Cires will further strengthen Shin-Etsu’s PVC business in Europe. Shin-Etsu signed a contract to obtain the Cires shares owned by Ineos Chlor Vinyls...

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