Wacker Chemie AG and Air Products and Chemicals, Inc. are in advanced discussions about the sale of Air Products’ shareholdings in their two joint ventures, Air Products Polymers (APP) including its Vinyl Acetate Ethylen activities and Wacker Polymer Systems (WPS). Air Products issued a formal statement on March 22, 2006, announcing its intention to sell its WPS and APP shareholdings. WACKER holds 35 percent of APP and Air Products 65 percent. As for WPS, WACKER holds 80 percent and Air Products 20 percent. WACKER expects this move will contribute substantially to further develop its polymer business to around €1 billion in sales. The planned transaction is still subject, among other matters, to concluding final, definitive agreements and approval by WACKER’s and Air Products’ respective supervisory bodies.
WPS is mainly active in dispersible polymer powders, while APP is a global leader in sales and technology for Vinyl Acetate - Ethylene (VAE) emulsions. VAE emulsions are an important precursor for dispersible powders, as well as adhesives, coatings, nonwovens, cement additives and sealants.