The provisional insolvency administrator of Vynova Wilhelmshaven has signed a letter of intent with the US chemicals group Westlake regarding the acquisition of the production site for polyvinyl chloride and vinyl chloride monomer in Wilhelmshaven.
Concluding its ongoing strategic review, Hexion Holdings has agreed to sell its epoxy-based Coatings and Composite businesses to Westlake Chemical for about $1.2 billion. The deal is expected to close in the 2022 second half, following all approvals. The activities to be divested include the epoxy specialty resins and base epoxy resins and intermediates product lines.
