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Ineos Sells PVC Film Business to Indian Company
6:47 AM MDT | August 2, 2010 | Natasha Alperowicz
Ineos has agreed to sell its global polyvinyl chloride (PVC) film business to Bilcare AG (Frankfurt), a subsidiary of Bilcare Ltd. (Pune, India), for €100 million ($130.3 million). The business has sales of about €240 million/year, empolys 1,300 people and has plants in Germany, Italy, India, and North America. The transaction is being carried out through Bilcare's German subsidiary and is expected to be completed at the end of August, subject to necessary regulatory filings and approvals. Tom Crotty, director of the Ineos Group, tells CW that the...
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