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As managing editor of Plastics News, I scan scores of Web sites, emails and news releases daily, and stay in constant touch with our network of global staff reporters and correspondents -- the largest reporting team in the plastics industry. I distill the more interesting items into commentary for this blog. Plastics News, part of Crain Communications Inc., began publishing weekly news in 1989, and launched a bilingual China site in mid-2005. In 2007, Crain acquired the two leading English-language plastics publications in Europe - Plastics & Rubber Weekly and the monthly European Plastics News.
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Report: Koch to bid on GE Plastics

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The Reuters news agency is reporting that Koch Industries Inc. plans to bid for GE Plastics. The report, which quotes "sources close to the process," says Koch is teaming with Blackstone Group.

The story names other bidders, too: Apollo Management, Carlyle Group (teaming up with Texas Pacific Group) and Kohlberg Kravis Roberts & Co. (working with Bain Capital). Many of these companies have other plastics holdings, so it would be interesting to see if, for example, TPG would combine GE Plastics with its existing Kraton business. That's just speculation, of course. But with private equity companies owning so many plastics businesses these days, the possibilities are intriguing.

The Reuters story also says that the bidding teams will receive additional details about GE Plastics' finances by the end of this week. So it doesn't sound like a deal is going to happen in the next week or two.

Koch, which several weeks ago bought Huntsman Corp.'s commodity plastics business, is the second-largest private company in the world, behind Cargill Inc.

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Industries Inc from Industries Inc on March 15, 2007 11:21 AM

2005 Solar Industries, Inc All Rights Reserved Manufacturer of light stampings and Read More

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