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Solvay confirms plans to sell European PVC compound business to OpenGate

10:30 AM MDT | April 10, 2014 | Deepti Ramesh

Solvay has confirmed that it has signed an agreement to sell its polyvinyl chloride (PVC) compound business, Benvic Europe, to US investment company OpenGate Capital (Los Angeles). The transaction is expected to close in the first half of 2014. The financial details of the deal have not been disclosed. Benvic generated revenues of about €160 million ($221 million) in 2013, Solvay says. Benvic employs about 220 people across Europe, with three PVC compounding production sites in France, Italy, and Spain. The divestment will not affect Benvic’s current...

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