Manufacturing Industry
Formosa eyes Borden's Ill. site.(Formosa Plastics Corporation U. S. A. plans acquisition of Borden Chemicals and Plastics L. P. Illiopolis, Illinois plant)(Brief Article)
Plastics News, March, 2002 by Esposito, Frank
Formosa Plastics Corp. USA of Livingston, N.J., may grow its North American PVC business by buying Borden Chemicals and Plastics LP's 400 million-pound-per-year capacity plant in Illiopolis, Ill., for about $35 million. The Illiopolis site produces 200 million pounds of specialty PVC for vinyl flooring and other uses, as well as 200 million pounds of commodity-grade PVC.
The commodity-grade capacity has been idled since early 2001 because of weak demand. The proposed deal comes three months after Geismar, La.-based Borden, which entered bankruptcy in April 2001, sold it Addis, La., PVC site to Shintech Inc. of Houston. Borden's only remaining manufacturing site is its PVC/vinyl chloride monomer plant in Geismar. Creditors have asked a U.S. Bankruptcy Court...
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