Westlake Chemical (Houston) has completed the acquisition of Nakan, a compounder of polyvinyl chloride (PVC), thermoplastic elastomers (TPE), and thermoplastic polyolefins (TPO) based in Reims, France, from OpenGate Capital (Los Angeles). Westlake announced the $265 million deal in September 2018.
Nakan brings Westlake eight production facilities located in China, France, Germany, Italy, Japan, Mexico, Spain and Vietnam, a research facility in France, and an application laboratory in the United States.
OpenGate Capital purchased Nakan in 2015, through the acquisition of Ivy Group. Ivy Group, formerly known as Kem One Innovative Vinyls, was acquired through a French administration process that originated with a complex acquisition in 2014 of Kem One SAS, a fully integrated producer of PVC resins. Entrepreneur Alain de Krassny is now the sole shareholder in Kem One.
By Clay Boswell
Source: Chemical Week
Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.
Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.
Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.
