202103 Aug

Westlake to Acquire Dimex

Summary

HOUSTON--(BUSINESS WIRE)--Westlake Chemical Corporation (NYSE: WLK), today announced plans for one of its subsidiaries to acquire the parent company of Dimex LLC, from Grey Mountain Partners, a private equity firm. Based in Marietta, Ohio, Dimex produces a variety of consumer products made from post-industrial-recycled (PIR) polyvinyl chloride (PVC), polyethylene (PE) and thermoplastic elastomer (TPE) materials, and has annualized sales of approximately $100 million. Because Dimex uses its compounds in its own products, the company is uniquely positioned to understand its customers’ needs and to provide the engineering, manufacturing, and distribution capabilities to meet those needs quickly and effectively. Dimex has also established relationships with major retailers in the United States and has developed its commercial distribution and online commerce channels as well. Actual results could differ materially, based on factors including, but not limited to: the timing to consummate the proposed transaction; the conditions to closing of the proposed transaction may not be satisfied or the closing of the proposed transaction otherwise may not occur; the risk that HSR approval is not obtained or is obtained subject to conditions that are not anticipated; the diversion of management time on transaction-related issues; and other risks and uncertainties described in Westlake’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the Securities and Exchange Commission (“SEC”) in February 2021, Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, which was filed with the SEC in May 2021, recent Current Reports on Form 8-K, and other SEC filings.

Source: Businesswire

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