MeadWestvaco Buys Stake in Resitec

MeadWestvaco Specialty Chemicals (Charleston, SC) says it has agreed to acquire a 50% stake in Resitec Industria Quimica (Rio de Janeiro), a producer of synthetic rubber, resins, and lubricants. Terms were not disclosed. Under the deal, Resitec will assume some production and all regional sales of MeadWestvaco’s specialty chemical products and will build a new tall oil refinery at Lages, Brazil to produce tall oil fatty acid and tall oil rosin. The refinery is due for start up in the fourth quarter. Resitec is currently a joint venture of oleochemical...

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