Latin America's largest maker of plastic pipes Mexichem SAB has signed a deal worth more than US$2 bln with a unit of Occidental Petroleum Corp. As per this deal, Occidental Chemical Corp. will supply vinyl chloride monomer (VCM) used to make polyvinyl chloride, (PVC) for five years. Occidental will also supply PVC resin from chlorine that Mexichem provides. This will reduce Mexichem's dependence on sourcing VCM on the spot market, allowing Mexichem to keep costs lower. The agreement also will provide technical assistance to Petroleos Mexicanos, the government oil company, with a petrochemical plant.
23-Jun-08 
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