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MeadWestvaco to take full ownership of Resitec

9:03 AM MST | November 9, 2012

MWV Specialty Chemicals (North Charleston, SC), the pine chemicals unit of MeadWestvaco, has agreed to acquire full ownership of Resitec Indústria Química (Rio de Janeiro), a Brazilian oleochemicals producer, from AECI, a specialty chemicals and explosives producer based in South Africa. MWV and AECI have managed the business, which specializes in rubber emulsifiers, adhesive resins, and lubricants, as a 50-50 joint venture for 4 years. A report in the Brazilian press put the value of the deal at about $20 million, but Stephanie Mangini, director of...

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