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Apollo Global to acquire Kem One by late 2021

October 15/2021

MOSCOW (MRC) -- US private equity firm Apollo Global Management has completed their exclusive negotiations with Alain de Krassny of De Krassny GmbH for the sale of the Kem One Group, a leading European producer of polyvinyl chloride (PVC), used mainly in construction, packaging and medical applications, and caustic soda, according to Global Leading Cronicle.

Kem One has 1,400 employees and 8 industrial sites located across France and Spain.

Kem One president De Krassny GmbH and the Apollo funds signed a put option agreement for the proposed sale, which is expected to be finalized by the end of 2021, subject to customary closing conditions and regulatory approvals.

Financial terms were not disclosed.

As MRC reported earlier, Kem One has declared a force majeure (FM) on PVC with K=70 supplies from its Berre unit in France. The company had to declare FM on September 2, 2021, following an equipment failure on the night of August 27 to 28, 2021. The plant has a suspension PVC production capacity of 290,000 tons/year through 3 fully automated production trains.

According to MRC's ScanPlast report, Russia's overall production of unmixed PVC totalled 746,700 tonnes in the first nine months of 2021, up by 4% year on year. All producers increased their output.

Kem One, a fully integrated vinyl production company, was established mid-2012 following the acquisition of Arkema's vinyl products division by the Klesch Group. The company employs 2,600 people at 22 manufacturing sites, primarily in Europe but also in Asia and North America. Europes second-largest producer of PVC with revenues in excess of one billion euros, Kem One continues to grow and build on its numerous strengths with a view to becoming market leader for integrated vinyl solutions.


mrcplast.com
Author:Margaret Volkova
Tags:Europe, PVC, SPVC, Kem One, France.
Category:General News
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