Home / Knowledge / News / Textiles / Wacker finalizes acquisition of Polymer JV
Wacker finalizes acquisition of Polymer JV
04
Feb '08
Wacker Chemie AG has successfully concluded its acquisition of full ownership of Air Products Polymers (APP) and Wacker Polymer Systems (WPS), its two joint ventures with Air Products and Chemicals, Inc.

The transaction announced in December 2007 has now been cleared by the European and U.S. antitrust authorities. WACKER's stake in APP had been 35 percent, with Air Products holding the remaining 65 percent. As for WPS, WACKER held 80 percent and Air Products, 20 percent. WACKER expects APP and WPS to be fully integrated into the Group structures by year-end.

As already reported on December 11, 2007, WACKER is to take over vinyl acetate/ethylene operations from APP and WPS. Consequently, WACKER will take full ownership of the two companies' activities in Allentown (PA, USA), Calvert City (KY, USA), Cologne and Burghausen (Germany), South Brunswick (NJ, USA) and Ulsan (South Korea).

WACKER plans to coordinate this business out of the Lehigh Valley (PA, USA). In return, Air Products is to receive the production facilities at Elkton (MD, USA) and Piedmont (SC, USA), as well as related business and a payment of $265 million. WACKER estimates that the acquisition will help boost the Group's 2008 polymer business to about €1 billion.

As the world's leading supplier of dispersible polymer powders for construction applications, WACKER expects the acquisition to benefit its global polymers business on several strategic fronts. Advantages include backward integration at U.S. and Asian dispersion plants, as well as the expansion of its supply chain outside the eurozone. In addition, WACKER strengthens its portfolio in application areas such as adhesives and coatings.

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search