10 June 2016
DETAILS
- Combination Will Create
* the Third-Largest Chlor-alkali Producer and
* the Second-Largest PVC Producer
in North America
- Expected Annual Cost Synergies
of Approximately $100 Million
- Transaction Expected to be Accretive
in the First Year Following Close
today announced that they have entered into
a definitive agreement under which
Westlake will acquire all of the outstanding shares
of
representing an enterprise value
of approximately
including debt and certain other
The transaction has been unanimously approved
by the Boards of Directors of both companies
and is expected to be completed
by the fourth quarter of 2016.
The combined company will be
* the third-largest chlor-alkali producer and
* the second-largest PVC producer in
with expected combined
* pro forma revenues of
* EBITDA of
ended Q1 2016.
The combination creates a stronger company
with significantly increased scale, greater product diversity
and integration throughout the value-chain.
Westlake expects the transaction to be accretive
to its earnings in the first year following close
and expects annualized cost synergies
of approximately
For More Information:
Investors:
Mr. Steve Bender
713-960-9111
investorrelations@westlake.com
Media:
Mr. Ben Ederington
713-960-9111
mediarelations@westlake.com
WWW.CHEMWINFO.COM BY KHUN PHICHAI
