Georgia Gulf May Invest in Jointly Owned U.S. Ethylene Plant
Georgia Gulf Corp. (GGC), the biggest North American maker of vinyl construction products, said it 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 percent of its ethylene requirements at cost, Chief Executive Officer Paul Carrico said today on a conference call to discuss third-quarter earnings.
He was asked whether Georgia Gulf would invest in a “condo cracker,” an ethylene plant owned by more than one company.
“Yes, we’re willing to make the investment in order to get to the position we’re trying to target,” Carrico said.
LyondellBasell Industries NV (LYB), the world’s largest maker of polypropylene, said in December it may invest in a condo cracker.
To contact the reporter on this story: Jack Kaskey in Houston at firstname.lastname@example.org
To contact the editor responsible for this story: Simon Casey at email@example.com