It’s Done! Westlake Chemical’s Acquisition of Axiall Creates Third-Largest North American Chlor-Alkali Producer
Westlake Chemical Corporation says it has completed its $3.8 billion acquisition of Axiall Corporation, the third-largest chlor-alkali producer and the second-largest polyvinyl chloride (PVC) producer in North America.
The acquisition includes Axiall's share in a 1 million-metric-ton-per-year grassroot ethylene project located in Westlake, Louisiana. The ethylene unit has a total investment value of $1 billion and is set for completion at the end of March 2019. Ethylene from the unit will feed a planned 700,000-ton-per-year ethylene glycol unit to be located next door.
The combined company will have pro forma revenues of $7.4 billion and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $1.4 billion for the twelve-month period ended June 30, 2016. Westlake first attempted to acquire Axiall in 2014.
Industrial Info's Chemical Processing Industry Database contains consistently updated information on approximately 15,800 active capital and maintenance projects with a combined value of $921.32 billion and more than 19,300 operational and pre-commissioned plants. In addition, the database includes information on thousands of canceled or on-hold projects and inactive or decommissioned plants.