Solvin and Arkema Buy Back Holdings in Vinyls Production JV

Arkema and SolVin (a joint venture between Solvay and BASF) have decided to each buy back the minority cross-holdings in the vinyls joint venntures, effective July 1. This affects the companies'  joint production entities for VCM (Vinylfos and Vinilis) and PVC (Vinylberre and Vinilis). Arkema will be the sole shareholder of Vinylfos and Vinylberre. Following this deal, both partners will regain their respective independence on the production sites in which they held a majority stake.

The companies said the decision was made in order to streamline the three manufacturing structures. It was also announced that the agreement will have no impact either on the workforce concerned or on Arkema's results.

(6/28/2010)