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
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.
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.
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.
