Wacker Chemie in talks to boost polymer business
Wed Nov 7, 2007 1:19am EST
FRANKFURT, Nov 7 (Reuters) - German chemicals group Wacker Chemie is in advanced talks with industrial gas supplier Air Products to take full ownership of the companies' two polymer joint ventures, it said late on Tuesday.
The purchase could take sales in Wacker's polymer business to around 1 billion euros ($1.45 billion), Wacker said in a statement.
Air Products said in March last year it intended to sell its holdings in the joint ventures Air Products Polymers (APP), in which it holds 65 percent, and Wacker Polymer Systems (WPS), with 20 percent.
The deal is still subject to final agreements and needs approval by the two companies' supervisory bodies, Wacker said, whithout disclosing any pricing details.
WPS is mainly active in dispersible polymer powders, while APP is a global leader in sales and technology for Vinyl Acetate - Ethylene (VAE) emulsions.
VAE emulsions are an important precursor for dispersible powders, as well as adhesives, coatings, non-wovens, cement additives and sealants.
Engineering News Archive