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Shin-Etsu buys GE out of siloxanes JV in Thailand

9:44 AM MDT | May 31, 2013

Shin-Etsu Chemical says it has acquired the 50% stake it did not own in Asia Silicones Monomer (ASM; Rayong, Thailand) from General Electric (GE) for ¥15 billion ($148 million). ASM operates a 70,000-m.t./year siloxanes plant at Map Ta Phut. Siloxanes are 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 Momentive Performance Materials. GE, under the terms of the 2006...

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