PPG acquires 40% stake in Taiwan Chlorine Industries

PPG has acquired a 40 percent stake in Taiwan Chlorine Industries Ltd (TCI) from China Petrochemical Development Corporation (CPDC).

TCI was established in 1986 as a joint venture between PPG and CPDC to produce chlorine-based products in Taiwan, at which time PPG owned 60 percent of the venture. In conjunction with the 2013 separation of its commodity chemicals business, PPG transferred its ownership interest in TCI to Axiall Corporation. Axiall was subsequently acquired by Westlake Chemical Corporation in 2016.

In connection with the sale of PPG’s original 60 percent ownership interest in TCI to Axiall, CPDC was granted an option to sell