Ineos and Solvay get EU go-ahead on JV

PRW

Published: May 13, 2014 10:41 am ET
Updated: May 13, 2014 10:44 am ET

Related to this story

Topics Materials, Europe, Materials Suppliers
Companies & Associations Solvay SA

Ineos Group AG and Solvay SA, Europe’s two largest manufacturers of PVC, have received European Union approval for a 4.3 billion euro ($5.9 billion) joint venture after agreeing to dispose of plants.

The joint venture, announced last year, will enable Ineos and Solvay to cut costs across a range of areas, offsetting material price rises and soaring energy bills. Overcapacity is also dogging PVC, pushing down process.

“PVC is an important raw material used in the construction sector and in many other industries,” said E.U. Competition Commissioner Joaquin Almunia. “The proposed commitments will ensure that the transaction will not result in higher prices to the detriment of businesses and consumers in Europe.”

Ineos will look for a buyer for suspension polyvinyl chloride (S-PVC) sites, providing a purchaser with a “self-standing S-PVC business capable of competing with the new joint venture,” the European Commission said in a statement. 


Comments

Ineos and Solvay get EU go-ahead on JV

PRW

Published: May 13, 2014 10:41 am ET
Updated: May 13, 2014 10:44 am ET

Post Your Comments


Back to story


More stories

Image

ZF finalizes deal to buy TRW, creating another global auto supply giant

September 15, 2014 1:09 pm ET

TRW Automotive Holdings, in a supply chain megadeal that has been in the works since mid-July, said Sept. 15 it has agreed to be acquired by German...    More

Image

Sabic, Chinese Academy of Sciences sign five-year development agreement

September 15, 2014 11:54 am ET

Ties between one of the world's biggest oil producers and one of its biggest consumers grew tighter Sept. 12 with the announcement of a five-year...    More

Image

BASF analyzes products based on sustainability potential

September 15, 2014 11:48 am ET

Chemicals giant BASF SE has created a new process for managing its product portfolio based on sustainability criteria.    More

Hungarian recycler launches new unit

September 15, 2014 10:59 am ET

Hungarian plastics recycler Polyter-Mix kft has launched a new 1,400-square-meter production hall at a site in Körösladány in southeastern Hungary.    More

Image

China's Zhongtai Chemical calls off large-scale PVC project

September 12, 2014 2:16 pm ET

Accepting the gloomy reality of the PVC market, Xinjiang Zhongtai Chemical Co. Ltd. has officially canceled a 800,000-ton PVC resin project and instea...    More

Market Reports

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events