Westlake Completes Acquisition of Dimex
September 10 2021 - 9:20AM
Business Wire
Company expands its building products business
with a leading recycled plastic materials processor
Acquisition supports Westlake’s growth
trajectory and meeting its ESG commitments
Westlake Chemical Corporation (NYSE: WLK) today announced that
it has completed the acquisition of Dimex LLC, from Grey Mountain
Partners, a private equity firm.
“The acquisition of Dimex underscores our longstanding
commitment to stewardship of the environment and recycling, and to
taking actions that contribute to a sustainable, circular economy,”
said Robert Buesinger, Executive Vice President, Vinyl Products of
Westlake Chemical Corporation. “We are at an important societal
inflection point where consumers prefer and are willing to pay for
products made with recyclable materials. Dimex produces a variety
of consumer products made from post-industrial-recycled polyvinyl
chloride, polyethylene and thermoplastic elastomer materials, which
will make this transaction an important piece of Westlake’s growth
trajectory and ESG commitment for a long time.”
According to a recent survey of 2,000 U.S. consumers reported by
Plastics Today, 59% of respondents appreciate buying items made
with recycled materials and are willing to pay more for such
products. Recycling reduces landfill waste and saves energy from
plastics production.
Buesinger continued, “Dimex has over 30 years of experience and
is one of the largest processors of recycled plastic materials in
the United States. Dimex also supplies recycled flexible PVC and
TPE compounds to other environmentally conscious manufacturers.
Because Dimex uses its compounds in its own products, the company
is uniquely positioned to understand its customers’ needs and to
provide the engineering, manufacturing, and distribution
capabilities to meet those needs quickly and effectively.”
Based in Marietta, Ohio, Dimex produces a range of consumer and
building products, including landscape edging; industrial, home and
office matting; marine dock edging; and masonry joint controls.
Following its acquisition by Grey Mountain Partners in 2013, the
company expanded its product development resources, which resulted
in the introductions of No-Dig Landscape Edging®, MotionTex®
Fitness Equipment Mats, and GrillTex® Under the Grill Protective
Deck and Patio Mats. Over the last four years, Dimex has secured 29
U.S. patents for its products.
“With the acquisition of Dimex, we are significantly adding to
our growing portfolio of environmentally friendlier products,” said
Albert Chao, President and Chief Executive Officer of Westlake.
“Westlake is continually improving how it incorporates recyclable
plastic materials into products to serve our customers’ demands for
innovative engineering and consumer interest in environmentally
responsible goods. Our commitment to Environmental, Sustainability
and Governance (ESG) objectives is focused on our mission of
providing essential products and critical innovations for materials
used in building and construction, consumer lifestyles and
nutrition and healthcare.”
Westlake’s sustainable products portfolio includes GreenVin™, a
caustic soda produced with renewable energy by the Company’s
Vinnolit subsidiary, and Aspire Vinyl®, the first phthalate-free,
bio-based compounds with more than 35% renewable content. Westlake
is also actively pursuing a one-pellet solution to incorporate
post-consumer resin (PCR) while maintaining the strength of plastic
materials and, separately, is participating in the EU Circular
Flooring Project to enable post-consumer PVC flooring
recycling.
In addition to providing products manufactured with
post-industrial recycled materials, Dimex is engaged in research
and development to advance additional opportunities to increase the
use of recycled materials. The acquisition expands Westlake’s role
in improving how plastic materials are sourced and produced to meet
the growing demand for sustainable and durable consumer
products.
About Westlake
Westlake is a global manufacturer and supplier of materials and
innovative products that enhance life every day. Headquartered in
Houston, we provide the building blocks for vital solutions — from
building products and infrastructure materials, to packaging and
healthcare products, to automotive and consumer goods. For more
information, visit the company's web site at www.westlake.com.
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Chip Swearngan MediaRelations@Westlake.com 1-713-585-2900
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