25 June 2010 10:47 [Source: ICIS news]
LONDON (ICIS news)--SolVin and Arkema will separate from their joint ventures in vinyl chloride monomer (VCM) and polyvinyl chloride (PVC) production in France and Spain, the companies said on Friday.
Effective from 1 July 2010, both groups have decided to acquire their reciprocal minority interests within the industrial entities of VinylFos, Vinilis and VinylBerre.
Following this deal, both partners would regain their respective independence on the production sites in which they hold a majority stake, the companies said.
European PVC producer SolVin would become the sole shareholder of Vinilis, based in ?xml:namespace>
"This operation will enable SolVin to simplify its industrial structure in this part of the European Union", said Enzo Morici, general manager of Solvay's vinyls business unit.
"SolVin always reacts very fast to market changes and customer requests. It will be even more able to do so after this operation," added SolVin managing director, Pierre Tucoulat.
“This streamlining of manufacturing structures will help us enhance our response and serve our customers in
Both companies said the agreement would not impact their workforce or have consequences or on their results.
SolVin is a joint venture of Solvay (75%) and BASF (25%).
($1 = €0.81)
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