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NEWS Westlake to buy Nakan for $265m


Houston-based Westlake Chemical has issued an exclusive and binding offer to acquire global com- pounding business Nakan from its private equity owner OpenGate Capital for $265m. The offer has been made in this way to enable Nakan to carry out consultation with works councils in France before entering into a negotiated, mutually binding purchase agree- ment. The acquisition is expected to close by early 2019, subject to receipt of regulatory approvals. “The combination of


Nakan with Westlake’s existing compounding business will present an excellent strategic fit. It will


Birla


invests in Spain


Carbon black manufac- turer Birla Carbon Spain (BCS) has announced an investment of €5m that will increase capacity at its Gajano site from 80,000 to 95,000 tonnes/year. The investment includes new equipment in one of its manufacturing lines and the re-engineering of other critical equipment to improve productivity, sustainability and energy efficiency. The investment was announced at the official opening of a new administrative office and laboratory at the site. � www.birlacarbon.com


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allow us to expand our compounding business globally and add important speciality products and technology to our existing portfolio,” said Albert Chao, Westlake’s President and CEO. Westlake is an interna- tional manufacturer and supplier of petrochemicals, polymers and building products. Its downstream products include PVC suspension and speciality resins, compounds and building products, such as pipes, fittings and speciality components, windows, fence, decking and film. Nakan is headquartered


in France and has produc- tion facilities there and in China, Germany, Italy,


and medical applications. The company generated sales of around $300m in its most recent financial year. OpenGate acquired


Westlake Chemical President and CEO Albert Chao


Japan, Mexico, Spain and Vietnam, plus a research facility in France and application lab in the US. It makes PVC and TPE compounds and stabilisers, which are used mainly in automotive, construction


Nakan in 2015 as part of its acquisition of a 70% majority stake in Ivy Group, then known as Kem One Innova- tive Vinyls, from administra- tion. The company said Nakan had been trans- formed during its period of ownership and had achieved a high level of growth. Ivy Group, which also includes PVC profile maker Alphacan and piping systems firm Omniplast, generates annual sales of around €350m. Alphacan and Omniplast remain under OpenGate ownership. � www.westlake.com


Silvergate offers bioplastic compounds from Floreon


UK masterbatch maker Silvergate Plastics has announced a manufacturing partnership with Floreon- Transforming Packaging to produce its specialty PLA-based bioplastic, which is said to provide an alternative to PS for produc- tion of single-use packaging and food service items. The Floreon material was developed with the Univer- sity of Sheffield and uses a patented combination of additives to create a rigid material with a good surface finish that is claimed to be four times tougher than PLA and processes with 40% less energy consumption.


COMPOUNDING WORLD | October 2018


Floreon bioplastic is intended to replace PS in single-use applications


According to Silvergate the new material is designed to outperform both com- peting bioplastics and conventional plastics and is compostable. “When we were ap-


proached by Floreon, we quickly realised that this technology can offer a


highly credible alternative to other plastics. We have therefore collaborated with Floreon, as we have the capability and capacity to maximise its commercial potential,” said Silvergate CEO Tony Bestall. � www.silvergate.co.ukhttp://floreon.com


www.compoundingworld.com


PHOTO: WESTLAKE CHEMICAL


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