Sector News

Koch Industries acquires Guardian Industries Corp.

November 23, 2016
Chemical Value Chain

Guardian Industries Corp. and Koch Industries, Inc., today announced that Guardian stockholders have approved the acquisition of the company by KGIC Merger Corporation, a wholly owned subsidiary of Koch Industries.

The deal is an all-cash transaction for the remaining 55.5% outstanding shares of Guardian Industries’ common stock not already owned by affiliates of Koch.

“Guardian Industries and its employees have proudly served customers for 84 years, and we have benefited a great deal from Koch’s robust guidance and infrastructure since its initial investment in 2012,” said Ron Vaupel, president and CEO of Guardian. “Our companies align in many areas including culture, global footprint and supply chain. We are excited to continue working together to create value for our customers and society.”

“Working with Guardian’s dedicated employees has proven to be a rewarding experience,” said Dave Robertson, president and COO of Koch. “We look forward to combining the strengths and capabilities of Guardian and Koch to better meet the needs of our customers.”

“Guardian is a world-class organization and a leader in providing innovative products,” said Charles Koch, chairman and CEO of Koch. “This acquisition fits well with our culture and core capabilities. We look forward to Guardian fully joining the Koch Industries family.”

The transaction is subject to customary closing conditions including antitrust approval, and is expected to close in the first quarter of 2017.

Source: Guardian Industries Corp.

comments closed

Related News

October 2, 2022

Trinseo announces potential closure of Boehlen, Germany Styrene Plant

Chemical Value Chain

Trinseo (NYSE: TSE), a specialty material solutions provider, announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany.

October 2, 2022

Celeste Mastin appointed H.B. Fuller President and CEO, succeeding Jim Owens upon his retirement

Chemical Value Chain

H.B. Fuller Company announced that Celeste Mastin, Executive Vice President and Chief Operating Officer, will succeed Jim Owens as H.B. Fuller’s President and Chief Executive Officer, effective December 4, 2022. Upon assuming the role, Mastin will also join the Company’s Board of Directors, replacing Owens, who will be retiring.

October 2, 2022

LyondellBasell realigns executive team, forms circular and low-carbon solutions business

Chemical Value Chain

New LyondellBasell CEO Peter Vanacker, who joined the company from Neste in May, today named his senior executive team and outlined organizational changes, including creation of a circular and low-carbon solutions business. All changes will be effective 1 October.