Atofina takes full ownership of Metco, Metablen jvs

02 May 2002 15:20  [Source: ICIS news]

LONDON (CNI)--Atofina said Thursday it has bought the 50% stakes in its Metco North America and Metablen joint ventures with Japanese textiles and chemicals manufacturer Mitsubishi Rayon that it did not already own.

Metco and Metablen produce methyl methacrylate-butadiene-styrene (MBS) impact modifiers for packaging and engineering resins as well as acrylic processing aids, largely for polyvinyl chloride (PVC) applications. Their combined sales were around $50m (Euro56m) last year.

Atofina, the chemicals subsidiary of French energy group TotalFinaElf, will be able to sell products previously sold under the Metablen trademark worldwide until the end of this year. It hopes to announce new trade-names for the product lines soon.

Metablen’s worldwide business manager Bruno Savanne said: "The new ownership allows Atofina to fully integrate Metco North America and Netherlands-based Metablen Co into its organisation. The new arrangement also opens new markets previously unavailable to Atofina."

No financial details of the transaction were disclosed.

By: Joanna Kesteven
+44 208 652 3214

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