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INEOS CHLORVINYLS ANNOUNCES SALE OF E-PVC BUSINESS TO VINNOLITINEOS ChlorVinyls has today announced it is to sell its Emulsion PVC (E-PVC) business to Vinnolit GmbH & Co. KG. The value of the deal is not disclosed. The sale consists of the commercial goodwill of the INEOS ChlorVinyls E-PVC business along with its E-PVC production facilities at Hillhouse (UK) and Schkopau (Germany). The deal will also include Vinnolit entering into an offtake agreement for the entire E-PVC output at Porto Torres (Italy). The E-PVC business has an annual turnover of approximately €150 million. INEOS ChlorVinyls retains its European VCM and Suspension PVC (S-PVC) businesses at Runcorn and Barry in the UK; Wilhelmshaven and Schkopau in Germany; and Porto Marghera, Porto Torres and Ravenna in Italy. VCM/S-PVC is the largest business of INEOS ChlorVinyls, with the Group's production capacity standing at around 1.1 million tonnes of VCM and 1.4 million tonnes of S-PVC. S-PVC finds its principal uses in the construction and packaging sectors; whilst VCM is used primarily within the INEOS supply chain. Chris Tane, CEO INEOS ChlorVinyls comments: "The sale will further strengthen the INEOS ChlorVinyls business by allowing us to consolidate our production and focus on our core strengths in VCM and S-PVC. It is expected that the sale will be completed once necessary approvals from the European Commission have been obtained. ENDS
For further information please contact the INEOS ChlorVinyls Press Office: UK Continental
Europe:
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