Manufacturing Industry

FTC approves PVC venture Oxy Vinyls.

Plastics News, February, 1999

DALLAS -- Oxy Vinyls LP, the newly named PVC joint venture between Occidental Chemical Corp. and Geon Co., moved a step closer to reality after being approved by the Federal Trade Commission Feb. 2. The deal -- which will pool the PVC, VCM and chlorine production of the two firms -- should be completed by the end of the first quarter of 1999, Geon officials said.

The joint venture still needs the approval of the Securities and Exchange Commission, as well as the approval of Geon shareholders and the board of directors of Occidental Petroleum Corp., OxyChem's parent company. OxyChem will own 76 percent of the new Dallas-based company, which will surpass Shintech Inc. as North America's largest PVC maker. With 4.2 billion pounds of PVC capacity, Oxy Vinyls will...

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