HOUSTON–(Enterprise WIRE)–Westlake Chemical Company (NYSE: WLK), now introduced strategies for one particular of its subsidiaries to receive the mother or father company of Dimex LLC, from Gray Mountain Associates, a non-public fairness company. Centered in Marietta, Ohio, Dimex provides a wide variety of consumer items manufactured from post-industrial-recycled (PIR) polyvinyl chloride (PVC), polyethylene (PE) and thermoplastic elastomer (TPE) components, and has annualized profits of about $100 million. These shopper goods involve landscape edging industrial, house and business office matting marine dock edging and masonry joint controls. The proposed transaction is subject to customary closing conditions, together with the expiration or termination of the relevant waiting around interval under the U.S. Hart-Scott-Rodino Antitrust Advancements Act of 1976, and is anticipated to close all through the next half of 2021.
“Westlake’s pending acquisition of Dimex underscores the company’s longstanding dedication to stewardship of the natural environment and recycling, and to using steps that lead to a sustainable, round economic system,” mentioned Robert Buesinger, Government Vice President, Vinyl Solutions of Westlake Chemical Company. “With around 30 a long time of working experience, Dimex is 1 of the largest processors of recycled plastic resources in the United States. Dimex also supplies recycled flexible PVC and TPE compounds to other environmentally conscious suppliers. Because Dimex employs its compounds in its very own goods, the enterprise is uniquely positioned to fully grasp its customers’ requires and to provide the engineering, producing, and distribution abilities to meet all those desires rapidly and proficiently. We glimpse forward to welcoming Dimex and its around 300 employees to the Westlake spouse and children of providers.”
Due to the fact its founding in 1991 as a regional compounder and extruder, Dimex has developed its customer and professional goods that are sold into rising marketplaces. Pursuing its acquisition by Grey Mountain Partners in 2013, the enterprise expanded its product or service growth sources, which resulted in the introductions of No-Dig Landscape Edging®, MotionTex® Health and fitness Products Mats, and GrillTex® Under the Grill Protective Deck and Patio Mats. Dimex has also founded relationships with main retailers in the United States and has made its business distribution and on the internet commerce channels as perfectly. In excess of the previous 4 yrs, Dimex has secured 29 U.S. patents for its merchandise.
Westlake is a worldwide maker and provider of products and impressive products that enrich lifetime every single working day. Headquartered in Houston, we offer the building blocks for critical options — from making merchandise and infrastructure products, to packaging and health care solutions, to automotive and shopper products. For much more details, visit the company’s world wide web web-site at www.westlake.com.
The statements in this release that are not historic statements, including statements regarding the predicted timing of closing and whether essential regulatory approval will be attained, are ahead-on the lookout statements in the this means of the federal securities regulations. These ahead-on the lookout statements are subject to important risks and uncertainties, quite a few of which are over and above Westlake’s handle. Actual success could differ materially, based mostly on components including, but not constrained to: the timing to consummate the proposed transaction the situations to closing of the proposed transaction might not be contented or the closing of the proposed transaction in any other case may not manifest the risk that HSR approval is not acquired or is obtained matter to conditions that are not expected the diversion of administration time on transaction-similar concerns and other pitfalls and uncertainties described in Westlake’s Once-a-year Report on Type 10-K for the fiscal yr finished December 31, 2020, which was filed with the Securities and Trade Fee (“SEC”) in February 2021, Quarterly Report on Variety 10-Q for the quarter finished March 31, 2021, which was submitted with the SEC in May possibly 2021, modern Current Stories on Kind 8-K, and other SEC filings. These filings also focus on some of the significant chance factors that may possibly have an affect on Westlake’s company, success of operations and economic problem. Westlake undertakes no obligation to revise or update publicly any ahead-seeking statements for any reason.