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Mexichem buys PVC producer Vestolit

2:37 PM MDT | August 18, 2014

Mexichem (Tlalnepantla, Mexico) has agreed to acquire Vestolit (Marl, Germany), Europe’s sixth-largest manufacturer of polyvinyl chloride (PVC), from private equity firm Strategic Value Partners (Greenwich, CT) for a total of €219 million ($294 million) in cash and assumed liabilities. The deal supports Mexichem’s strategy to expand worldwide in high-end specialty products, Mexichem says. The deal is subject to regulatory approvals and is expected to close in the fourth quarter. Mexichem plans to consolidate Vestolit under Mexichem’s chlorvinyls chain for...

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