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Mexichem withdraws from Pemex vinyl chloride joint venture

By: Stephen Downer

MEXICO CITY (Nov. 26, 11:40 a.m. ET) — Mexichem SAB de CV, Latin America’s largest manufacturer of PVC pipe, vinyl resins and compounds, has withdrawn from a proposed $556 million vinyl chloride monomer-producing joint venture with state oil company Petróleos Mexicanos (Pemex) after expressing its exasperation over Pemex’s failure to finalize the deal.

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