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Westlake Chemical Corp Acquires CertainTeed's PVC Pipe, Fittings and Foundations Business

Wednesday, 6 Mar 2013 04:33pm EST 

Westlake Chemical Corp announced that it has entered into a definitive agreement with CertainTeed Corporation, a subsidiary of the French public company, Compagnie de Saint-Gobain, to purchase its Pipe and Foundation Group (PFG), a producer of PVC pipe and fittings for municipal, water well, mining, agriculture and irrigation applications. The sale is for a purchase price of $175 million in cash, including $22 million of working capital, with closing adjustments. The transaction is expected to close in the 2nd quarter of 2013. The PFG acquisition includes the PVC pipe, fittings, profiles and foundations business and associated operating facilities in Lodi, California and McPherson, Kansas with production capacity of approximately 150 million pounds per year. Westlake will also acquire technologies and intellectual properties for the production of a number of specialized products, including Certa-Lok restrained joint pipe and Yelomine branded products for a variety of end market applications. 

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