This was announced in a statement to the Taiwan Stock Exchange on 24 December. The agreement still needs to be approved by US and Taiwan regulators and could be closed by the second quarter of 2011. Dexco Polymers LP is an affiliate of Dow and ExxonMobil Chemical and produces SBS and SIS rubber products at its plant in Plaquemine in Louisiana. It is headquartered in Houston, TX, USA: TSRC said this acquisition represents an important step in the company's global expansion. The president and CEO of the Taiwanese company, Wei-Hua Tu commented: "TSRC has a long history of operating in the SBS, SIS, and SEBS segments to accommodate various customer needs, and enjoys a unique competitive advantage in customized products. Dexco's Vector brand is recognized as leading brand name for differentiated and high-end products in the global synthetic rubber industry, and these products are highly complementary to TSRC's existing business. Dexco's sales are also geographically complementary to TSRC's. Dexco sells primarily into America and Europe. TSRC's platform is strongest in Asia. The acquisition of Dexco will enable TSRC to become a fully integrated global supplier of SBC products. Following the acquisition TSRC will be able to develop more differentiated and higher value-added products .