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Section: Rubber
  • Written on 16.06.2011 - Industry
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Tessenderlo sells PVC and chlor-alkali activities to Kerling

Tessenderlo and Kerling announced that they have signed a sale and purchase agreement. Kerling, through its Ineos ChlorVinyls business, will become the new owner of Tessenderlo Group’s PVC activities, including VCM, chlor-alkali as well as part of organic chlorine derivatives.

Besides the major plant at Tessenderlo in Belgium, the production plants in France (Mazingarbe) and the Netherlands (Beek and Maastricht) are involved. These businesses employ about 850 people. This transaction is subject to European merger control approval.

The purchase price is said to be EUR 110 million on a cash-free, debt-free basis.

Following this transaction, Tessenderlo says that it will have completed its exit from commodities, and taken the major step in its transformation into a speciality group.

Kerling is Europe's largest PVC manufacturer.


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