SolVin takes over Solvay's PVC interests in Martorell (Spain)
On January 1, 2002, SolVin integrated the polyvinyl chloride production activities located in Martorell, Spain, which had previously been owned by Solvay. These activities comprise a 65% share of the PVC and VCM production joint venture operated with Atofina, whose 35% stake will remain unaffected. Related activities previously controlled by Solvay, including Martorell's electrolysis unit, were also transferred to SolVin.
The ownership structure of SolVin - Solvay and BASF hold 75% and 25%, respectively - was not modified by the transaction, whose financial details will remain undisclosed.
"Following this transfer of ownership, the picture is now clear and complete: all of the Solvay group's PVC activities in Europe are housed within SolVin, which is a leading player with a wide coverage of the European market" said Nicolas-Paul Neu, Managing Director of SolVin.
"The production joint venture in Martorell with Atofina was launched in February 1999, with the aim of creating a large integrated plant, which maximizes competitiveness. The same objective was achieved when SolVin and Atofina established another production joint venture in Fos and Berre, France, on January 1, 2000. SolVin has a 21% share of the VCM unit in Fos and 35% of the PVC plant in Berre", indicated Neu.
For further information please contact :
SOLVAY S.A. Headquarters
