BUENOS AIRES, ARGENTINA — Brussels, Belgium-based Solvay SA sold its PVC resin operations in Brazil to its Buenos Aires affiliate, Indupa SAIC.
Solvay controls 51 percent of Indupa, which makes PVC and feedstocks in Bahia Blanca, Argentina. Indupa is to pay as much as $175 million, Solvay said.
The deal creates a 650 million-pound-per-year PVC maker with two units: Solvay Indupa SAIC in Argentina and Solvay Indupa Ltda. in Brazil. The acquired unit, in Santo Andre, is expanding annual PVC capacity to 530 million pounds. Indupa is expanding its facility in Bahia Blanca to 463 million pounds a year.