Mergers and Acquisitions Rise of a PVC Giant? Mexichem Takes Over Vestolit for 219 Million Euros
Mexichem acquires Vestolit, one of the leading producers of PVC-Specialties in Europe, based in Marl, Germany, from investment company Strategic Value Partners (SVP) for € 219 million. Market insiders had already expected SVP to divest the PVC specialist.
Tlalnepantla/Mexico – This acquisition is supporting Mexichem’s strategy of becoming a global, vertically integrated chemical company with a focus on high-end, specialized PVC products over the whole value chain, the company states. With this merger under the belt, Mexichem could become one of the leading producers of PVC Specialties worldwide.
"The wide product portfolio and the global market coverage of our new parent company in combination with our strong position in Europe will lead to further growth for the company’s business", said Dr. Michael Träger, CEO of Vestolit. "Joining forces with the strategic partner Mexichem is a major step forward in expanding the position as the leading producer of PVC-Specialties worldwide. This transaction is a clear sign in strengthening our production site in Marl." The acquisition is still subject to regulatory approvals and is expected to close in the fourth quarter of 2014.