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Wacker to Buy Out Air Products in VAE Joint Venture
5:17 AM MST | December 11, 2007 | Kerri Walsh
Wacker Chemie has agreed to buy Air Productsâ€™ interest in their vinyl acetate ethylene (VAE) polymers joint ventures. As part of the agreement, Air Products says it will receive full ownership in the Elkton, MD and Piedmont, SC plants and their related businesses plus cash considerations of $265 million. The sale is part of Air Products' previously announced plans intended to make the company a more focused, less cyclical and higher growth company. The sale includes the global VAE polymers plants at Calvert City, KY; South Brunswick, NJ; Cologne, Germany; and...
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