Ineos sells E-PVC business
22 May 2007
Runcorn, UK -- Ineos ChlorVinyls is to sell its Euro150-million turnover, emulsion PVC (E-PVC) business to Vinnolit GmbH & Co. KG for an undisclosed sum, Ineos announced 21 May.
The sale covers Ineos’ E-PVC plants at Hillhouse, UK, and Schkopau, Germany and commits Vinnolit to an offtake agreement for the entire E-PVC output from its Porto Torres, Italy unit.
Ineos, however, retains its European VCM and Suspension PVC (S-PVC) businesses at Runcorn and Barry in the UK; Wilhelmshaven and Schkopau in Germany; and Porto Marghera, Porto Torres and Ravenna in Italy.
VCM/S-PVC is the largest business of Ineos ChlorVinyls, with a capacity of around 1.1 million tonnes of VCM and 1.4 million tonnes of S-PVC. VCM is used mainly within the Ineos supply chain, while S-PVC is principaly used in construction and packaging applications.
“The sale will further strengthen the Ineos ChlorVinyls business by allowing us to consolidate our production and focus on our core strengths in VCM and S-PVC,” said Chris Tane, CEO Ineos ChlorVinyls, in a press statement.
