Orbia defers plan to divest its polymer solution business
Orbia Advance Corporation has announced that in light of the COVID-19 pandemic and its impact on the global economy and capital markets, the company has decided to pause its efforts relating to a potential divestiture or other strategic alternative with regard to its Vestolit (Polymer Solutions Business Group). The company is prepared to wait for the right environment to maximize shareholder value in any transaction involving its Vestolit business.
The company believes Vestolit is a fundamentally strong business, with a unique global footprint and strong cash generation, and will continue to focus on driving sustainable, profitable growth.
Vestolit, part of polymer solutions group is as adaptable and dynamic as the materials it produces. It focuses largely on PVC and other vinyl polymers with a wide variety of applications including pipes, cables, flooring, auto parts, household appliances, clothing, packaging, and multiple medical devices.