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

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Textiles | On 27th Apr 2017

Seven new organisations join ZDHC Programme

The Zero Discharge of Hazardous Chemicals (ZDHC) Programme from...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

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

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Lynda Kelly
Suominen Corporation

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X