SNPE in talks to buy DuPont herbicide plant in France

05 September 2001 17:59  [Source: ICIS news]

PARIS (CNI)--SNPE Groupe is in "advanced discussions" with US chemicals giant DuPont to acquire its herbicides production unit in Loon Plage, near Dunkirk in France, a spokesman for the French state-owned industrial group said Wednesday.

SNPE is interested in purchasing the unit to bolster its agrochemicals sector, which posted sales of Euro120.4m ($109m) last year.

The spokesman said SNPE would like to negotiate a deal which will make it one of DuPont's major suppliers in this area.

It is understood that the Loon Plage unit is running at just 40% of capacity due to the slump in the herbicide market in eastern Europe and Russia.

The government recently agreed to provide FF500m ($69m/Euro76m) of fresh capital to SNPE, whose debts last year hovered around Euro366m.

SNPE divides its core expertise into two areas: energetic materials, consisting primarily of explosives and propellants, and fine chemicals.

By: Doris Leblond
+44 20 8652 3214

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