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ICIG completes the acquisition of Vynova Group; divestments by Inovyn

Brussels-based International Chemical Investors Group (ICIG) has completed its acquisition of certain chlorvinyls assets being divested by Inovyn, the PVC joint venture between Ineos and Solvay. http://www.plasticsandrubberasia.com/july2015/company2.html

The newly acquired businesses form a new chlorvinyls platform within ICIG named Vynova Group with total sales in excess of EUR850 million, complementing ICIG’s Fine Chemicals and Custom Manufacturing platform WeylChem Group (EUR670 million in sales), the Pharmaceuticals platform CordenPharma Group (EUR330 million in sales) and ICIG Enterprises businesses (CarboTech, ENKA and Rütgers Organics; EUR110 million in sales).

With the addition of Vynova, ICIG becomes a leading European player both in the suspension polyvinyl chloride (S-PVC) and the potassium hydroxide (KOH) business, resulting in ICIG aggregated sales in excess of EUR2 billion and approximately 6,000 employees in Europe and the US.

The acquired assets consist of:

  • the chlorine plants, the EDC/ VCM plants and the KOH plant at Tessenderlo, Belgium,
  • the PVC plant at Mazingarbe, France,
  • the PVC plant at Beek, the Netherlands,
  • the PVC and VCM plants at Wilhelmshaven, Germany, and
  • the EDC plant at Runcorn, UK.

In addition, the membrane chlorine plant at Runcorn has been placed in a 50/50 joint venture between Inovyn and Vynova. The acquisition also includes a portion of the KOH business at Tessenderlo, with Vynova supplying Inovyn under a toll manufacturing arrangement for the proportion of the KOH business that Inovyn will retain.

International Chemical Investors Group (ICIG) is a privately owned industrial holding company focusing on chemicals and pharmaceutical businesses. Since inception in 2004, ICIG has acquired more than 24 businesses, all of which have origins in major global chemical or pharmaceutical corporations, and are independently managed. Including Vynova Group, ICIG companies will employ approximately 6,000 employees operating 28 manufacturing facilities in Europe and the US.

(PRA)


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