Solvay and Ineos Seek EC Approval
Solvay and Ineos Seek EC Approval
For Proposed PVC Joint Venture
For Proposed PVC Joint Venture Brussels—Solvay
and Ineos have submitted an application for competition
clearance to the European Commission (EC) for a planned
50-50 joint venture that will rank among the top three
polyvinyl chloride (PVC) producers in the world (PCN, 13
May 2013, p 1).
Solvay will contribute its vinyl activities to the venture,
which are part of its Solvin joint venture with BASF, as
well as it chlor chemicals business. The largest PVC producer
in Europe, Ineos' Kerling subsidiary will contribute
its chlorvinyls and related businesses.
In addition to competition clearance from the EC and
other relevant authorities, the planned transaction is subject
to the applicable information/consultation procedures
with employee representatives in the involved countries.
Those processes are "currently underway," Solvay noted.