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People & Business :: M&A
Shin-Etsu buys GE out of silicones monomer jv in Thailand
11:20 AM MDT | May 24, 2013 | Natasha Alperowicz
Shin-Etsu Chemical has acquired the 50% stake it did not already own in Asia Silicones Monomer (ASM; Rayong, Thailand) from General Electric Co.(GE) for 15 billion Japanese yen ($147.4 million), the company announced Thursday. ASM operates a 70,000 m.t./year of siloxanes plant at Map ta Phut, Thailand. Siloxanes is the monomer used to make silicones. GE sold its silicones and quartz business to Apollo Management in 2006 but retained the stake in ASM, which was formed by GE and Shin-Etsu in 2001. Apollo operates the former GE silicones and quartz business as...
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