Germany's Helm AG to exit polymer activity at end of June

13 April 2012 09:26  [Source: ICIS news]

LONDON (ICIS)--Helm AG will stop dealing in the distribution of polymers from the end of June as this no longer meets its business objectives and is a risk to the firm's portfolio, a source at the German company said on Friday.

"We are stepping out of PET [polyethylene terephthalate]. We will stop as of the end of June with the whole polymer activity…PP [polypropylene], PVC [polyvinyl chloride] and PE [polyethylene]," the source said.

"Polymers are the main products of producers," the source explained. "We have been quite successful as the biggest importer for Germany or maybe Europe, as a non-producing company, but it is still not what we were aiming for," he added.

Helm AG, which has been active in the polymer market for 30 years, will concentrate on its other liquid products such as methanol, monoethylene glycol (MEG), acetic acid, styrene, propylene and vinyl acetate monomer (VAM).

It will also continue with its other businesses which include fertilizers, pharmaceuticals, nutrition, crop protection, biotechnology and solids.

The polymer team will be spread out among Helm AG's other divisions. Its customers have been informed of the change.

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By: Caroline Murray
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