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Braskem acquires Solvay Indupa for $290 million
5:58 AM MST | December 20, 2013 | —Clay Boswell
Solvay has announced an agreement to sell its 70.59% stake in Solvay Indupa (Buenos Aires) to Braskem for $290 million. The deal, subject to antitrust approval, will give Braskem a commanding position in South America’s polyvinyl chloride (PVC) market. Braskem is already South America’s largest producer of PVC, with 1.25 million m.t./year of production capacity. Indupa, the region’s second-largest producer, has 540,000 m.t./year of PVC capacity divided between two facilities in Brazil and Argentina. After the acquisition, Braskem will have 1.79...
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