Rhodia, Lyondell sign deal for isocyanates sale

07 July 2008 17:25  [Source: ICIS news]

HOUSTON (ICIS news)--Rhodia and Lyondell Chimie have signed definitive agreements for the sale of their isocyanates business to Perstop, the companies said on Monday.

The sale to Swedish specialty chemicals firm Perstop includes Rhodia’s aliphatic isocyanates activity and Lyondell’s aromatic isocyanates business,

Rhodia's unit includes hexamethylene diisocyanate (HDI) and intermediates, producing a range of intermediates for industrial paints and coatings, while Lyondell Chimie's incorporates toluene di-isocyanate (TDI) and the production of intermediates for polyurethane foams, operated under contract by Rhodia.

The facilities are based at Pont-de-Claix in France and Freeport in Texas, US, and together employ around 680 people, the companies said.

The companies did not disclose the terms of the sales.

“The transaction is expected to be completed within a few weeks, once all necessary administrative authorisations and approvals have been obtained, Rhodia and Lyondell said in a statement.

Perstorp president and CEO Bo Dankis added: "We are particularly impressed by the technical capabilities and highly qualified employees we will now access. Our commitment to the sites in both Pont-de-Claix and Freeport is long-term.”

($1 = €0.64)

To discuss issues facing the chemical industry go to ICIS connect
For more on TDI visit ICIS chemical intelligence

By: Brian Ford
+1 713 525 2653

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 3 November 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly