Europe's Kerling buys Belgium-based Tessenderlo Group's European chlor-vinyls business, including its PVC, VCM, caustic soda units, for consideration of 110 million cash; Kerling's Ineos ChlorVinyls to integrate, manage acquired assets
August 4, 2011
– Kerling Plc has today completed its acquisition of Tessenderlo Group’s European chlor-vinyls business for a consideration of €110 million cash.
Through the transaction Kerling has now acquired all of Tessenderlo Group’s PVC activities as well as the VCM, caustic soda, caustic potash and parts of its OCD (Organic Chlorine Derivatives) businesses including:
the chlor-alkali, vinyls and OCD assets at the site in Tessenderlo Belgium.
the site in Maastricht (The Netherlands) with a benzyl alcohol plant
the sites in Beek (The Netherlands) and Mazingarbe (France) with PVC plants
approximately 850 employees.
The newly acquired business will be integrated into and managed by INEOS ChlorVinyls, the largest operating Company within Kerling Plc.
Comments Chris Tane, CEO Kerling: "We are delighted to have completed this acquisition, which is a significant step forward for the development of our Company.
“The new businesses consists of high quality assets, strategically located in complementary markets to Kerling’s existing businesses and will provide a platform for further profitable growth.”