Westlake Monomers Ends Pact to Buy BFGoodrich Plant in Kentucky
Aug. 20, 1996
AKRON, Ohio _ BFGoodrich Co. said Tuesday that Westlake Monomers Corp. of Houston has ended its agreement to buy Goodrich's chemicals plant in Calvert City, Ky. for $170 million.
Goodrich, based in Akron, said it will continue to operate the plant, which produces chlorine, sodium hydroxide, hydrogen, ethylene, propylene and other chemicals.
The action effectively ends all legal claims Westlake had made against Goodrich, said Goodrich spokeswoman Denise Bowler.
The chemicals facility was the subject of a lawsuit filed in 1993. Westlake sought up to $350 million in damages after Goodrich sold its Geon Co. business.
Westlake, which acquired ethylene dichloride and vinyl chloride facilities in Calvert City from Goodrich in 1990, claimed it should have had the right of first refusal to acquire the remaining chemical operations in Calvert City. An arbitrator ruled in 1994 that Westlake did not have that right.
Dave Hansen, a Westlake spokesman, said Tuesday that the company decided not to purchase the company after a review of the site and the assets involved.
Goodrich manufactures a variety of specialty chemicals and provides aircraft systems and services. Westlake manufactures and markets petrochemicals and plastics.