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Slide #66. Westlake Chemical Corporation — CertainTeed's PVC Pipe, Fittings and Foundations Business
Acquirer:
Westlake Chemical Corporation (NYSE:WLK)
Acquiree:
CertainTeed's PVC Pipe, Fittings and Foundations Business
Details:
Westlake Chemical Corporation (NYSE: WLK) announced today that it has entered into a definitive agreement with CertainTeed Corporation, a subsidiary of the French public company, Compagnie de Saint-Gobain, to purchase its Pipe and Foundation Group (PFG), a leading producer of PVC pipe and fittings for municipal, water well, mining, agriculture and irrigation applications. The sale is for a purchase price of $175 million in cash, including $22 million of working capital, with closing adjustments. The transaction is expected to close in the 2nd quarter of 2013, subject to standard closing conditions, including regulatory review.
Westlake operates as a manufacturer and marketer of performance and basic materials and housing and infrastructure products. Co.'s segments are: Performance and Essential Materials, which manufactures and markets polyethylene, styrene monomer, ethylene co-products, polyvinyl chloride (PVC), vinyl chloride monomer, ethylene dichloride, chlor-alkali (chlorine and caustic soda), and chlorinated derivative products, as well as ethylene and ethylene co-products; and Housing and Infrastructure Products, which manufactures and markets products including residential siding, trim and mouldings, stone, roofing, windows, outdoor living products, PVC pipe and fittings and PVC compounds.
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Hold (2.08 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
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