Mexichem seeks international expansion as Pemex delays joint venture

Mexichem SAB has decided to seek international expansion after a proposed petrochemical joint venture with the state oil company Petroleos Mexicanos has faced delays. Mexichem has been on a expansion drive, with acquisition of over 15 companies since 2007. Repeated delays by Petroleos Mexicanos to approve a joint venture to produce vinyl chloride monomer, has pushed the company to decided to give priority to it’s vertical integration outside Mexico.
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