Home / Knowledge / News / Textiles / Westlake Chemical completes acquisition of Axiall Corp
Westlake Chemical completes acquisition of Axiall Corp
03
Sep '16
Courtesy: Westlake Chemical
Courtesy: Westlake Chemical
At a cost of around $3.8 billion, which includes debt and certain other Axiall liabilities, Westlake Chemical Corporation said it has completed the acquisition of Axiall Corporation for $33.00 per share in an all-cash transaction. The acquisition makes Westlake the third largest North American chlor-alkali and the second-largest PVC producer.

According to Westlake, the transaction will be accretive to its earnings in the first year following the closure of the deal, and expects annualised cost synergies of around $100 million.

For the twelve month period ended June 30, 2016, revenue of the combined entity is $7.4 billion with an adjusted EBITDA of $1.4 billion.

“This transaction aligns two remarkable companies, creates a company with greater financial and operational flexibility and accelerates our growth strategy,” Westlake CEO Albert Chao said.

“We believe that we will be better able to serve our customers with a more diversified portfolio that should create significant value and growth opportunities for Westlake stockholders,” he added. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Silke Brand-Kirsch
Schlegel und Partner

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Johan Berlin
InvestKonsult Sweden AB

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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