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Mexico's Mexichem buys PVC pipe producer Wavin for EUR531mln

February 10/2012

(mexichem) -- Dutch polyvinyl chloride (PVC) pipe producer Wavin has agreed to a takeover bid from Mexichem for EUR531mln (USD708mln), the two companies said on Wednesday.

PVC producer Mexichem intends to make a recommended all-cash public offer of EUR10.50 per ordinary Wavin share, which values 100% of the issued and outstanding shares at approximately EUR531m, the two companies said in a statement. 

 The combination of Wavin and Mexichem creates the global market leader in plastic pipe systems with total annual sales of around EUR 4.0 billion.

Mexichem and Wavin are highly complementary with very limited geographic overlap
The combined group will have stronger design, engineering and R&D capabilities whilst leveraging Mexichem's low cost manufacturing platform.
The combined group will have a more diversified end-market profile across the residential, non-residential and infrastructure segments exposing it to different economic and construction cycles.

Wavin will retain a separate operating and legal structure with headquarters in Zwolle, the Netherlands.
Wavin's brand will be retained and R&D innovation centre will be kept in the Netherlands.
Existing rights of the employees, including pension rights, will be respected and the current .

Author:Anna Larionova
Tags:PVC, other pipes.
Category:General News
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