Ineos and Solvay have confirmed CWâ€™s exclusive report that they are in the process of forming a leading vinyls joint venture. The companies announced today that they have signed a letter of intent (LOI) to combine their European chlor-vinyls activities in a 50-50 jv. The combination would form a polyvinyl chloride (PVC) producer ranking among the top three worldwide. The jv would have pro forma net sales of â‚¬4.3 billion ($5.62 billion) and a recurring Ebitda of â‚¬257 million, based on 2012 figures. The combined business would have 5,650 employees in 9...
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