GE Plastics, a unit of General Electric Co., has agreed with Kawasaki Steel Corporation of Japan to acquire Kawasaki's LNP Engineering Plastics business.
The sale is expected to be completed in the first quarter of 2002. Terms of the agreement were not disclosed.
GE Plastics intends to acquire the stock of Kawasaki Chemical Holding Co., the parent company for the corporations making up the LNP Engineering Plastics business.
The LNP business will be combined with the complementary business units already operated by GE Plastics.
The resulting business will have 13 manufacturing locations including: Selkirk, N.Y.; Thorndale, Penn.; Columbus, Ind., Katy, Texas (recycle materials); and Santa Ana, Calif., in the U.S.; Cobourg, Ontario, Canada; San Luis Potosi, Mexico; Sao Carlos, Brazil; Raamsdonksveer, The Netherlands; Pontirolo, Italy; Fosses, France; Thornaby, United Kingdom; and Seremban, Malaysia. Headquarters will be at Exton, Penn.
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