Georgia Gulf plans buy stake in jointly-owned ethylene plant

Georgia Gulf plans to buy stake in jointly-owned ethylene plant

4:37 AM, 9th November 2012
Georgia Gulf plans to buy stake in jointly-owned ethylene plant

ATLANTA, US: Georgia Gulf Corp will consider buying a stake in a jointly-owned ethylene plant to meet its raw-material needs. The Atlanta-based company has had ‘quite a few discussions’ about its goal of securing 50 per cent of its ethylene requirements at cost, said Paul Carrico, Chief Executive Officer, Georgia Gulf.

The company plans to invest in a ‘condo cracker,’ an ethylene plant owned by more than one company, to make the investment in order to get to the position it is trying to target, said Carrico to Bloomberg News.

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