Mexichem SAB, Mexicos’ PVC maker and the largest maker of plastic pipes in Latin America, has acquired Rockwood Holdings Inc.'s AlphaGary thermoplastic compounds business for US$300 mln in cash, as per Bloomberg. AlphaGary has operations in USA, UK and Canada with annual sales of US$231 mln. Rockwood, the world's largest producer of lithium products, expects to use the sale proceeds to reduce debt.
Mexichem has more than quadrupled sales in the past five years, mainly through takeovers. It's board had approved investments in October 2009 of about US$1 billion to expand operations in the state. The PVC maker has made at least four acquisitions this year, including the purchase of a fluorine unit from Ineos Group Holdings Plc for about US$350 mln. Mexichem plans to expand production of vinyl chloride monomer ( VCM) in the state of Veracruz, Del Valle.
11-Jan-11 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}