IHS Chemical Week

People & Business :: Earnings/Finance

Klesch and Arkema at odds over PVC producer Kem One

1:43 PM MST | March 11, 2013 | —Francinia Protti-alvarez

A legal dispute has erupted between Klesch Group (Geneva), a special situations investor; and Arkema over Kem One (Lyon, France), the former polyvinyl chloride (PVC) business of Arkema, which Klesch acquired last year. Klesch is seeking €310 million ($403.6 million) in compensation from Arkema for “significant gaps between the financial information presented by Arkema’s management before the transaction was concluded and the current financial results,” Klesch said in a statement on 4 March. The compensation claim covers Kem One SAS, which...

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