North American Olefins and Vinyls Leader
Westlake Chemical completes acquisition of Axiall
05.09.2016 – Westlake Chemical Corporation announced that it has completed the acquisition of Axiall Corporation. The combined company will be the third-largest chlor-alkali producer and the second-largest polyvinyl chloride (PVC) producer in North America, with expected combined pro forma revenues of 7.4 billion US$ and adjusted EBITDA of 1.4 billion US$ for the twelve-month period ended June 30, 2016. Westlake expects the transaction to be accretive to its earnings in the first year following close and expects annualised cost synergies of approximately 100 mio. US$.
Albert Chao, Westlake’s President and Chief Executive Officer, said, „We are pleased to complete this important strategic acquisition and to welcome Axiall and its talented team into the Westlake family of companies. This transaction aligns two remarkable companies, creates a company with greater financial and operational flexibility and accelerates our growth strategy. We believe that we will be better able to serve our customers with a more diversified portfolio that should create significant value and growth opportunities for Westlake stockholders.“
Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company‘s range of products includes: ethylene, polyethylene, styrene, propylene, chlor-alkali and derivative products, PVC suspension and specialty resins, PVC Compounds, and PVC building products including siding, pipe, fittings and specialty components, windows, fence, deck and film.
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