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Arkema and SolVin streamline the industrial structure of their vinyl production joint ventures in France and Spain

Published on 2010-06-28. Author : SpecialChem

Arkema and SolVin announce the conclusion of an agreement for the purchase, effective July 1st 2010, of their reciprocal minority interests within their joint production entities for VCM (Vinylfos and Vinilis) and PVC (Vinylberre and Vinilis).

For a number of years, Arkema and SolVin have been partners in the vinyl production chain - vinyl chloride monomer (VCM) and polyvinyl chloride (PVC) - within three industrial entities operating in France and Spain, namely Vinylfos, Vinylberre and Vinilis, in which Arkema has a 79%, 65% and 35% shareholding respectively.

In order to streamline these three manufacturing structures, Arkema and SolVin have decided to terminate these reciprocal interests. Accordingly, effective July 1st 2010, Arkema will be the sole shareholder of Vinylfos and Vinylberre. Following this deal, both partners will regain their respective independence on the production sites in which they held a majority stake.

« This streamlining of manufacturing structures will help us enhance our response and serve our customers in Europe more efficiently », states Otto Takken, Arkema Executive Vice President, Vinyl Products.

This agreement will have no impact either on the workforce concerned or on Arkema's results.

SolVin is a joint venture of Solvay (75%) and BASF (25%). It is a leader on the polyvinyl chloride (PVC) market in Europe and on the PVDC market worldwide.

SOLVAY is an international Chemicals Group. It offers a broad range of products and solutions that contribute to improving quality of life. The Group is headquartered in Brussels and employs more than 19,000 people in 50 countries. In 2009, its consolidated sales amounted to 8.5 billion euros. Solvay is listed on the NYSE Euronext stock exchange in Brussels.

A global chemical company, Arkema consists of three businesses: Vinyl Products, Industrial Chemicals, and Performance Products. Arkema reported sales of 4.4 billion euros in 2009. Arkema has 13,800 employees in over 40 countries and seven research centers located in France, the United States and Japan. With internationally recognized brands, Arkema holds leadership positions in its principal markets.

Source: Arkema

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