Westlake Announces Binding Offer To Acquire NAKAN - Quick Facts

(RTTNews) - Westlake Chemical Corp. (WLK) announced it has issued an exclusive, binding offer to acquire NAKAN, a global compounding solutions business, from private equity firm, OpenGate Capital. Westlake will pay approximately $265 million in cash, subject to adjustment.

NAKAN, headquartered in Reims, France, has eight production facilities, located in China, France, Germany, Italy, Japan, Mexico, Spain and Vietnam, as well as a world-class research facility in France and application laboratory in the United States. NAKAN's products are used in a wide-variety of applications, including in the automotive, building and construction, and medical industries. NAKAN generated approximately $300 million of revenue in the most recent twelve-month period.