Home / Knowledge / News / Textiles / Westlake Chemical to acquire Axiall for $3.8 bn
Westlake Chemical to acquire Axiall for $3.8 bn
14
Jun '16
Courtesy: Westlake Chemical
International petrochemicals manufacturer Westlake Chemical has signed an agreement to acquire the integrated chemicals company Axiall for $33 per share, which comes to approximately $3.8 billion, by the fourth quarter of 2016.

The transaction will provide the company with complementary geographic and product positions, better positioning of the company for margin capture and earnings stability, expanded manufacturing presence and a strong combined balance sheet.

Approved by the board of directors of both companies, the transaction will make the company the third largest producer of chlor-alkali in North America.

“This transaction aligns two remarkable companies, creates a company with greater financial and operational flexibility and accelerates our growth strategy,” Albert Chao, president and CEO of Westlake commented on the acquisition.

“We have tremendous respect for Axiall's employees and look forward to working closely with them to achieve these goals,” he added.

The transaction is subject to the approval of Axiall's stockholders and customary closing conditions.

It is an all-cash transaction. (MCJ)

Fibre2Fashion News Desk - India


Must ReadView All

Top 15 US fashion brands are collectively worth $70 bn

Fashion | On 22nd Jul 2018

Top 15 US fashion brands are collectively worth $70 bn

The top 15 American fashion brands are collectively worth close to...

Courtesy: Covestro

Textiles | On 22nd Jul 2018

Covestro's new products for waterproof textile coating

Covestro, which is among the largest polymer companies, has unveiled...

Evogene, IMAmt to work together in insect resistance

Textiles | On 22nd Jul 2018

Evogene, IMAmt to work together in insect resistance

Evogene, a leading biotechnology company developing novel products...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ritu Kumar
Label Ritu Kumar

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Jay Ramrakhiani
Occasions Elegance Wear

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

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search