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Westlake to acquire Dimex in line with strategy that contributes to sustainable, circular economy

August 04/2021

MOSCOW (MRC) -- Westlake Chemical Corporation has announced plans for one of its subsidiaries to acquire the parent company of Dimex LLC, from Grey Mountain Partners, a private equity firm, according to BusinessWire.

Based in Marietta, Ohio, Dimex produces a variety of consumer products made from post-industrial-recycled (PIR) polyvinyl chloride (PVC), polyethylene (PE) and thermoplastic elastomer (TPE) materials, and has annualized sales of approximately USD100 million. These consumer products include landscape edging; industrial, home and office matting; marine dock edging; and masonry joint controls.

The proposed transaction is subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act of 1976, and is expected to close during the second half of 2021.

Westlakes pending acquisition of Dimex underscores the companys longstanding commitment to stewardship of the environment and recycling, and to taking actions that contribute to a sustainable, circular economy

Since its founding in 1991 as a regional compounder and extruder, Dimex has grown its consumer and commercial products that are sold into growing markets. Following its acquisition by Grey Mountain Partners in 2013, the company expanded its product development resources, which resulted in the introductions of No-Dig Landscape Edging, MotionTex Fitness Equipment Mats, and GrillTex Under the Grill Protective Deck and Patio Mats. Dimex has also established relationships with major retailers in the United States and has developed its commercial distribution and online commerce channels as well. Over the last four years, Dimex has secured 29 US patents for its products.

As MRC reported earler, in July 2021, McDermott International, Ltd has been selected by LACC, LLC, a joint venture between Westlake Chemical Corporation and Lotte Chemical Corporation, to provide engineering, procurement and construction for a seventh heater addition to its LACC Ethane Cracker Facility in Westlake, La.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 953,400 tonnes in the first five months of 2021, which virtually corresponded to the same figure a year earlier. High denisty polyethylene (HDPE) shipments decreased. At the same time, PP shipments to the Russian market were 607,8900 tonnes in January-May 2021, up by 33% year on year. Shipments of homopolymer PP and PP block copolymers increased, whereas deliveries of PP random copolymers decreased.

Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, chlor-alkali and derivative products, PVC suspension and specialty resins, PVC Compounds, and PVC building products including siding, pipe, fittings and specialty components, windows, fence, deck and film.
Author:Margaret Volkova
Tags:PVC, PP, PE, propylene, elastomer, ethylene, petrochemistry, recikling, Lotte Chemical, Westlake Chemical, sustainable development, USA.
Category:General News
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