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
The new executive team combines decades of senior leadership experience across the international chemicals, commodities and refining sectors with deep commercial and operational experience of Borouge Group International AG’s constituent businesses.
Syensqo announced on Friday the appointment of two new members to its Executive Leadership Team (ELT), together with a new Chief Strategy & Transformation Officer, further strengthening the Company’s focus on accelerating growth and driving a high performance culture.
BASF Coatings announced that Jens Luehring will be appointed Chief Executive Officer upon closing of the transaction between BASF and Carlyle, which will establish a standalone coatings company. Dr. Uta Holzenkamp will continue to lead BASF Coatings until closing and will then support Jens Luehring to ensure a smooth transition.
