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08-02-2011

Tessenderlo: Sale of PVC and Chlor-Alkali Activities Completed

Tessenderlo Group has completed the sale of its PVC and Chlor-Alkali activities, including part of Organic Chlorine Derivatives, to Kerling, a privately held UK-based company.

Kerling, through its Ineos ChlorVinyls business, is now the owner of these activities, with production plants in Tessenderlo (Belgium), Mazingarbe (France), Beek and Maastricht (Netherlands), employing about 850 people.

On June 14th , Tessenderlo Group announced that it had agreed to sell its PVC and Chlor-Alkali businesses to the European leader Kerling. Following clearance by the European Commission on July 26th, this transaction has now been successfully completed. On closing of the deal, Tessenderlo Group received 110 million euro on a cash-free, debt-free basis.

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