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Tessenderlo sells PVC and chlor-alkalis businesses to INEOS ChlorVinyls

June 15/2011

(ICIS) -- Tessenderlo is to sell its polyvinyl chloride (PVC) and chlor-alkali businesses to INEOS ChlorVinyls for EUR 110m (USD 159m) on a cash-free, debt free basis, the Belgium-based chemical company said on Tuesday. INEOS ChlorVinyls is part of UK-based Kerling, a leading manufacturer of PVC and caustic soda in Europe.

The company has signed a sale and purchase agreement with Tessenderlo to purchase its chlor-alkali and vinyls organic chlorine derivatives (OCD) assets at its Tessenderlo site in Belgium.

The PVC sites in Mazingarbe, France, and at Beek in the Netherlands - as well as a fourth site in Maastricht, the Netherlands, which also has a benzyl alcohol plant - are also part of the transaction.

After the transaction, Tessenderlo will exit from the commodities market and focus on its sulphate, akiolis and gelatine businesses, and its remaining plastics pipe systems and water treatment segment.

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