Mexico's Mexichem says Pemex joint venture will begin in May

MEXICO CITY, March 21 Thu Mar 21, 2013 6:31pm EDT

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MEXICO CITY, March 21 (Reuters) - Mexican plastic pipe and chemical maker Mexichem said on Thursday that its joint venture with state oil monopoly Pemex will begin in May.

In January, the board of Pemex approved the venture between the oil giant and Mexichem to produce vinyl chloride monomer, a chemical used to make plastic pipes, resins and paints.

Mexichem will announce in a couple of weeks an acquisition in the U.S. plastics sector, the firm's president Juan Pablo del Valle said at an event held by U.S. news company Bloomberg in Mexico City also on Thursday.

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