Westlake to acquire compounder and extruder Dimex
Dimex is said to be one of the largest processors of recycled plastic materials in the U.S.
Material supplier Westlake Chemical Corp. announces plans for one of its subsidiaries to acquire the parent company of Dimex LLC, a compounder and extruder, from private equity firm Grey Mountain Partners.
Based in Marietta, Ohio, Dimex is said to be one of the largest processors of recycled plastic materials in the U.S., and 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 US$100 million. These consumer products include landscape edging; industrial, home and office matting; marine dock edging; and masonry joint controls.
The proposed transaction is expected to close during the second half of 2021.
“Westlake’s pending acquisition of Dimex underscores the company’s longstanding commitment to stewardship of the environment and recycling, and to taking actions that contribute to a sustainable, circular economy,” said Robert Buesinger, Westlake’s executive vice president, vinyl products. “Dimex is…a processor of recycled plastic materials [and] also supplies recycled flexible PVC and TPE compounds to other environmentally conscious manufacturers. 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.”
Westlake is headquartered in Houston.