Solvay and INEOS take note of the European Commission’s decision to continue its evaluation of their proposed 50/ 50 Joint Venture in European chlorvinyls activities. This follows the original notification of the planned transaction to the Commission in September 2013.
During this Phase II review, Solvay and INEOS will continue to work with the Commission.
Both companies remain confident that the proposed Joint Venture will receive Commission clearance, which could be in the first half of 2014. This would create a competitive and sustainable business that would continue to benefit customers in Europe's rapidly changing markets and highly challenging economic environment.
ENDS
Contacts at INEOS:
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Richard Longden + 41 216 277 063 |
Craig Welsh + 44 19 28 511 528 |
Louise Calviou + 44 1928 516 644 |
Contacts at Solvay:
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Lamia Narcisse + 33 1 53 56 59 62 |
Caroline Jacobs + 32 2 264 1530 |
Maria Alcon-Hidalgo + 32 2 264 1984 |
Edward Mackay + 32 2 264 36 87 |
Note to editors:
As an international chemical group, SOLVAY assists industries in finding and implementing ever more responsible and value-creating solutions. The Group is firmly committed to sustainable development and focused on innovation and operational excellence. Solvay serves diversified markets, generating 90% of its turnover in activities where it is one of the top three worldwide. The group is headquartered in Brussels, employs about 29,000 people in 55 countries and generated 12.4 billion euros in net sales in 2012. Solvay SA SOLB.BE) is listed on Nyse Euronext in Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLBt.BR).
INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. It comprises 15 businesses each with a major chemical company heritage. Its production network spans 51 manufacturing facilities in 11 countries throughout the world. INEOS products make a significant contribution to saving life, improving health and enhancing standards of living for people around the world. Its businesses produce the raw materials that are essential in the manufacture of a wide variety of goods: from paints to plastics, textiles to technology, medicines to mobile phones - chemicals manufactured by INEOS enhance almost every aspect of modern life.